Pitcairn Co. Invests $232,000 in TechnipFMC plc (NYSE:FTI)

Pitcairn Co. purchased a new position in shares of TechnipFMC plc (NYSE:FTI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,249 shares of the oil and gas company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. bought a new stake in TechnipFMC in the 1st quarter valued at $29,000. Johnson Financial Group Inc. bought a new stake in TechnipFMC in the 4th quarter valued at $33,000. Quarry LP lifted its position in TechnipFMC by 76.6% in the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 768 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in TechnipFMC in the 4th quarter valued at $45,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in TechnipFMC by 367.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas company’s stock valued at $89,000 after acquiring an additional 2,790 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $28.60 on Friday. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 60.38 and a beta of 1.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $25.99 and a 200 day simple moving average of $24.00. TechnipFMC plc has a one year low of $17.36 and a one year high of $29.24.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.23 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. Research analysts predict that TechnipFMC plc will post 1.2 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is currently 42.55%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CAO David Light sold 5,928 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the transaction, the chief accounting officer now directly owns 11,534 shares in the company, valued at approximately $297,692.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on FTI shares. Piper Sandler boosted their price target on shares of TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a research note on Friday, April 26th. Susquehanna boosted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Finally, Citigroup upped their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus target price of $28.62.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.