Caxton Associates LP Takes Position in TechnipFMC PLC (FTI)
Caxton Associates LP purchased a new position in TechnipFMC PLC (NYSE:FTI) in the 4th quarter, Holdings Channel reports. The fund purchased 31,059 shares of the oil and gas company’s stock, valued at approximately $608,000.
Several other large investors have also bought and sold shares of the business. Stifel Financial Corp grew its stake in shares of TechnipFMC by 1.8% in the fourth quarter. Stifel Financial Corp now owns 29,130 shares of the oil and gas company’s stock worth $568,000 after acquiring an additional 523 shares in the last quarter. Shine Investment Advisory Services Inc. grew its stake in shares of TechnipFMC by 64.2% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 2,070 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 809 shares in the last quarter. LS Investment Advisors LLC grew its stake in shares of TechnipFMC by 7.1% in the fourth quarter. LS Investment Advisors LLC now owns 28,731 shares of the oil and gas company’s stock worth $563,000 after acquiring an additional 1,905 shares in the last quarter. United Services Automobile Association grew its stake in shares of TechnipFMC by 1.6% in the fourth quarter. United Services Automobile Association now owns 135,004 shares of the oil and gas company’s stock worth $2,643,000 after acquiring an additional 2,088 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of TechnipFMC by 9.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 23,649 shares of the oil and gas company’s stock worth $462,000 after acquiring an additional 2,097 shares in the last quarter. Institutional investors and hedge funds own 67.98% of the company’s stock.
In related news, CEO Douglas J. Pferdehirt purchased 50,000 shares of TechnipFMC stock in a transaction that occurred on Monday, December 31st. The stock was purchased at an average cost of $19.20 per share, with a total value of $960,000.00. Following the completion of the transaction, the chief executive officer now directly owns 525,802 shares in the company, valued at $10,095,398.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by insiders.
TechnipFMC stock opened at $22.91 on Friday. The firm has a market cap of $10.69 billion, a PE ratio of 27.94, a PEG ratio of 2.64 and a beta of 1.23. TechnipFMC PLC has a 12-month low of $18.20 and a 12-month high of $34.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.29 and a quick ratio of 1.15.
TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Wednesday, February 20th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.46). The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.40 billion. TechnipFMC had a positive return on equity of 2.94% and a negative net margin of 15.31%. TechnipFMC’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. As a group, sell-side analysts forecast that TechnipFMC PLC will post 1.36 earnings per share for the current year.
TechnipFMC announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 12th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Tuesday, March 19th will be given a $0.13 dividend. The ex-dividend date is Monday, March 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.27%. TechnipFMC’s dividend payout ratio (DPR) is presently 15.85%.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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