53,885 Shares in TechnipFMC plc $FTI Bought by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan bought a new stake in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 53,885 shares of the oil and gas company’s stock, valued at approximately $3,573,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of TechnipFMC during the 2nd quarter worth approximately $3,081,514,000. AQR Capital Management LLC grew its holdings in shares of TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after acquiring an additional 3,549,839 shares in the last quarter. State Street Corp increased its position in shares of TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the last quarter. Invesco Ltd. increased its position in shares of TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after acquiring an additional 4,437,960 shares during the last quarter. Finally, Boston Partners lifted its holdings in TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after acquiring an additional 192,549 shares during the period. 96.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FTI shares. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Susquehanna decreased their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. UBS Group set a $80.00 target price on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Barclays increased their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Trading Up 3.2%

NYSE:FTI opened at $78.27 on Tuesday. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.55. The stock’s fifty day moving average price is $72.29 and its two-hundred day moving average price is $70.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The company has a market cap of $30.69 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.55 and a beta of 0.72.

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

TechnipFMC Dividend Announcement

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

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC 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.