Korea Investment CORP Invests $16.56 Million in TechnipFMC plc $FTI

Korea Investment CORP acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, Holdings Channel reports. The institutional investor acquired 249,750 shares of the oil and gas company’s stock, valued at approximately $16,558,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in TechnipFMC during the 1st quarter worth about $26,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC during the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. increased its holdings in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the period. Ascentis Independent Advisors acquired a new position in shares of TechnipFMC in the first quarter valued at about $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of TechnipFMC in the second quarter worth about $37,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In other news, Director Eric D. Mullins acquired 6,365 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FTI. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Barclays lifted their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Stock Performance

Shares of FTI stock opened at $77.62 on Monday. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.55. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The stock has a market cap of $30.44 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.58 and a beta of 0.72. The business has a 50-day simple moving average of $71.14 and a 200-day simple moving average of $69.30.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.TechnipFMC’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. On average, equities analysts expect that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s dividend payout ratio is currently 6.94%.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.