Deutsche Bank AG Buys 1,334,555 Shares of TechnipFMC plc (NYSE:FTI)

Deutsche Bank AG grew its stake in shares of TechnipFMC plc (NYSE:FTI) by 92.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,777,040 shares of the oil and gas company’s stock after buying an additional 1,334,555 shares during the period. Deutsche Bank AG’s holdings in TechnipFMC were worth $80,368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its holdings in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of TechnipFMC during the 4th quarter valued at $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC during the 4th quarter valued at $46,000. EverSource Wealth Advisors LLC lifted its stake in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after buying an additional 563 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the transaction, the director now owns 100,951 shares in the company, valued at $3,004,301.76. The trade was a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David Light sold 10,147 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,706 shares of company stock valued at $1,651,665. Insiders own 1.80% of the company’s stock.

TechnipFMC Stock Up 0.7%

Shares of FTI opened at $29.90 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 19.67 and a beta of 0.98. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $33.45. The business’s 50 day simple moving average is $27.60 and its 200-day simple moving average is $29.12.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the company earned $0.22 EPS. TechnipFMC’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts expect that TechnipFMC plc will post 1.63 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, June 4th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, May 20th. TechnipFMC’s dividend payout ratio is 10.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Susquehanna decreased their target price on TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Barclays boosted their price target on TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Evercore ISI increased their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Finally, StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.