Legal & General Group Plc Invests $149.67 Million in TechnipFMC plc $FTI

Legal & General Group Plc bought a new stake in TechnipFMC plc (NYSE:FTI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,257,512 shares of the oil and gas company’s stock, valued at approximately $149,673,000. Legal & General Group Plc owned 0.58% of TechnipFMC at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in TechnipFMC during the 1st quarter worth $26,000. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC in the third quarter valued at $32,000. Geneos Wealth Management Inc. raised 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 buying an additional 340 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of TechnipFMC in the first quarter valued at about $37,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of TechnipFMC during the second quarter worth about $37,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 1.1%

FTI stock opened at $76.54 on Friday. The stock has a market capitalization of $30.02 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. The company has a fifty day moving average of $71.85 and a 200-day moving average of $69.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. TechnipFMC plc has a one year low of $35.29 and a one year high of $80.55.

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

TechnipFMC Dividend Announcement

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

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of the company’s stock in a transaction on Friday, August 14th. The shares were bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, the director owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. This trade represents a 373.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FTI. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Susquehanna dropped their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Company Profile

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.