Proficio Capital Partners LLC Makes New $1.30 Million Investment in TechnipFMC plc $FTI

Proficio Capital Partners LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) in the second quarter, HoldingsChannel reports. The institutional investor acquired 19,625 shares of the oil and gas company’s stock, valued at approximately $1,301,000.

Several other large investors also recently modified their holdings of FTI. Focus Partners Advisor Solutions LLC acquired a new stake in TechnipFMC during the 2nd quarter valued at approximately $3,470,000. Chase Investment Counsel Corp acquired a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $12,397,000. Globeflex Capital L P acquired a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $1,011,000. Oppenheimer Asset Management Inc. purchased a new position in shares of TechnipFMC during the 2nd quarter valued at approximately $8,407,000. Finally, BankChampaign National Association acquired a new stake in shares of TechnipFMC during the first quarter worth approximately $1,157,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TechnipFMC

In related news, Director Eric D. Mullins bought 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FTI. Susquehanna dropped their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Citigroup raised their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Evercore reissued an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Royal Bank Of Canada upped their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Performance

Shares of FTI opened at $75.71 on Thursday. The stock has a market capitalization of $29.69 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 1.54 and a beta of 0.72. The business’s fifty day moving average price is $71.62 and its 200 day moving average price is $69.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a 12-month low of $35.29 and a 12-month high of $80.55.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Equities research analysts forecast that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio is 6.94%.

About TechnipFMC

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.