Glenorchy Capital Ltd Purchases New Stake in TechnipFMC plc (NYSE:FTI)

Glenorchy Capital Ltd purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 4th quarter, Holdings Channel reports. The fund purchased 127,036 shares of the oil and gas company’s stock, valued at approximately $2,559,000. TechnipFMC makes up 1.0% of Glenorchy Capital Ltd’s holdings, making the stock its 14th largest position.

Other large investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust acquired a new position in TechnipFMC during the third quarter valued at $29,000. Systematic Alpha Investments LLC acquired a new position in TechnipFMC in the 3rd quarter worth about $146,000. Ballentine Partners LLC acquired a new position in TechnipFMC in the 3rd quarter worth about $203,000. International Assets Investment Management LLC acquired a new position in TechnipFMC in the 4th quarter worth about $203,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in TechnipFMC in the 4th quarter worth about $203,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

NYSE:FTI traded up $0.44 during mid-day trading on Tuesday, hitting $25.82. 2,581,897 shares of the company’s stock traded hands, compared to its average volume of 4,687,316. The firm has a 50 day moving average of $23.80 and a two-hundred day moving average of $21.43. TechnipFMC plc has a 12 month low of $12.64 and a 12 month high of $27.26. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 215.14 and a beta of 1.65. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities analysts forecast that TechnipFMC plc will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.77%. TechnipFMC’s payout ratio is 166.68%.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FTI has been the topic of several research reports. Benchmark reaffirmed a “buy” rating and issued a $30.00 target price (up from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. TD Cowen upped their target price on TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Barclays upped their target price on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price on the stock. in a research report on Friday, February 23rd. Finally, StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.34.

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.