TechnipFMC plc $FTI Shares Purchased by Danske Bank A S

Danske Bank A S lifted its holdings in TechnipFMC plc (NYSE:FTI) by 14.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,824,879 shares of the oil and gas company’s stock after buying an additional 353,957 shares during the period. Danske Bank A S’s holdings in TechnipFMC were worth $191,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Coppell Advisory Solutions LLC bought a new stake in shares of TechnipFMC during the 2nd quarter valued at about $35,000. Keating Financial Advisory Services Inc. acquired a new stake in TechnipFMC during the second quarter worth approximately $37,000. Latitude Advisors LLC bought a new stake in TechnipFMC in the third quarter worth approximately $41,000. Ameritas Advisory Services LLC bought a new stake in TechnipFMC in the second quarter worth approximately $44,000. Finally, Covestor Ltd lifted its stake in TechnipFMC by 55.6% in the third quarter. Covestor Ltd now owns 742 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 265 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on FTI shares. UBS Group started coverage on shares of TechnipFMC in a research note on Monday, October 12th. They issued a “buy” rating and a $89.00 price objective for the company. Barclays increased their target price on shares of TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Piper Sandler raised their price target on shares of TechnipFMC from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Finally, Citigroup upped their price objective on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $78.18.

Insiders Place Their Bets

In related news, insider Thierry Conti sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the transaction, the insider owned 85,813 shares of the company’s stock, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.40% of the company’s stock.

TechnipFMC Stock Up 1.8%

FTI traded up $1.14 during trading on Friday, hitting $66.06. 1,968,778 shares of the company’s stock were exchanged, compared to its average volume of 3,193,588. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $69.83 and its two-hundred day moving average is $69.57. TechnipFMC plc has a fifty-two week low of $42.46 and a fifty-two week high of $80.70. The stock has a market cap of $25.69 billion, a P/E ratio of 20.77, a PEG ratio of 1.01 and a beta of 0.89.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.79 billion. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. As a group, equities analysts expect that TechnipFMC plc will post 3.31 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, December 2nd. Investors of record on Tuesday, November 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, November 17th. TechnipFMC’s dividend payout ratio is currently 6.29%.

About TechnipFMC

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services. Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.