Public Employees Retirement System of Ohio Acquires New Holdings in TechnipFMC plc $FTI

Public Employees Retirement System of Ohio bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 2nd quarter, Holdings Channel.com reports. The fund bought 128,414 shares of the oil and gas company’s stock, valued at approximately $8,514,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of TechnipFMC in the second quarter valued at approximately $3,081,514,000. AQR Capital Management LLC raised its position in shares of TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after purchasing an additional 3,549,839 shares during the last quarter. State Street Corp lifted its stake in TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after buying an additional 4,938,498 shares in the last quarter. Invesco Ltd. grew its holdings in TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after buying an additional 4,437,960 shares during the last quarter. Finally, Boston Partners grew its holdings in TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after buying an additional 192,549 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Up 3.2%

Shares of FTI opened at $78.27 on Tuesday. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.55. The company has a market capitalization of $30.69 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. The stock has a fifty day moving average of $72.29 and a two-hundred day moving average of $70.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. As a group, analysts forecast that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 6.94%.

Insider Buying and Selling

In other TechnipFMC news, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction on Friday, August 14th. The stock was bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FTI shares. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. Citigroup boosted their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, Barclays upped their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.