Maverick Capital Ltd. Makes New $1.56 Million Investment in TechnipFMC plc (NYSE:FTI)

Maverick Capital Ltd. purchased a new position in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 59,675 shares of the oil and gas company’s stock, valued at approximately $1,561,000.

A number of other hedge funds have also recently modified their holdings of the business. Norden Group LLC lifted its position in TechnipFMC by 2,899.1% during the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after purchasing an additional 366,266 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of TechnipFMC by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after buying an additional 126,247 shares during the period. Edgestream Partners L.P. bought a new position in shares of TechnipFMC in the first quarter worth about $965,000. Balyasny Asset Management L.P. lifted its position in shares of TechnipFMC by 868.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock valued at $63,082,000 after buying an additional 2,808,618 shares in the last quarter. Finally, Seven Eight Capital LP grew its stake in shares of TechnipFMC by 412.5% during the 4th quarter. Seven Eight Capital LP now owns 307,805 shares of the oil and gas company’s stock valued at $6,199,000 after acquiring an additional 247,744 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

FTI opened at $25.55 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 54.36 and a beta of 1.50. The company has a fifty day moving average of $26.39 and a 200 day moving average of $25.98. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.34 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, August 20th. TechnipFMC’s payout ratio is 42.55%.

Analyst Ratings Changes

A number of research firms have commented on FTI. Susquehanna raised their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Citigroup raised their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $29.51.

TechnipFMC Profile

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.