TechnipFMC plc $FTI Shares Newly Bought by Curated Wealth Partners LLC

Curated Wealth Partners LLC acquired a new position in TechnipFMC plc (NYSE:FTI) during the 3rd quarter, HoldingsChannel reports. The fund acquired 20,200 shares of the oil and gas company’s stock, valued at approximately $1,372,000.

Several other large investors also recently bought and sold shares of FTI. BlackRock Inc. purchased a new stake in shares of TechnipFMC during the second quarter worth approximately $3,081,514,000. Amundi boosted its stake in TechnipFMC by 72.6% during the 2nd quarter. Amundi now owns 4,358,115 shares of the oil and gas company’s stock worth $288,943,000 after purchasing an additional 1,832,581 shares during the last quarter. Bank of America Corp DE acquired a new stake in TechnipFMC during the 2nd quarter worth $226,069,000. Bank of New York Mellon Corp grew its holdings in shares of TechnipFMC by 7.3% during the first quarter. Bank of New York Mellon Corp now owns 2,878,798 shares of the oil and gas company’s stock worth $199,011,000 after buying an additional 194,799 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in shares of TechnipFMC during the second quarter worth $163,822,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Trading Down 2.4%

Shares of NYSE FTI traded down $1.65 during mid-day trading on Thursday, reaching $67.85. 747,290 shares of the company’s stock were exchanged, compared to its average volume of 3,908,761. The company’s 50-day moving average is $73.91 and its 200-day moving average is $71.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The firm has a market capitalization of $26.61 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.13 and a beta of 0.83. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.70.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. TechnipFMC’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. Analysts expect that TechnipFMC plc will post 3.20 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC’s dividend payout ratio is currently 6.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FTI. Barclays reduced their target price on shares of TechnipFMC from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup upped their price objective on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 2nd. UBS Group started coverage on shares of TechnipFMC in a research note on Monday. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $74.83.

Insider Activity at TechnipFMC

In related news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thierry Conti sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the sale, the insider directly owned 85,813 shares in the company, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.40% of the company’s stock.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.