Daiichi Life Insurance Co. Ltd. Takes $1.03 Million Position in TechnipFMC plc $FTI

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of TechnipFMC plc (NYSE:FTI) in the second quarter, HoldingsChannel.com reports. The fund purchased 15,618 shares of the oil and gas company’s stock, valued at approximately $1,035,000.

Other hedge funds have also added to or reduced their stakes in the company. Commerce Bank acquired a new position in TechnipFMC during the second quarter valued at approximately $644,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of TechnipFMC in the 2nd quarter valued at $329,000. Quantbot Technologies LP acquired a new position in shares of TechnipFMC during the 2nd quarter worth $587,000. Evolve Private Wealth LLC bought a new stake in shares of TechnipFMC during the 2nd quarter worth $2,217,000. Finally, Varma Mutual Pension Insurance Co bought a new stake in shares of TechnipFMC during the 2nd quarter worth $12,352,000. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price 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 in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank Of Canada lifted their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Citigroup raised their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Barclays raised 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. Finally, Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Performance

TechnipFMC stock opened at $75.90 on Tuesday. The business has a 50 day moving average of $71.29 and a 200-day moving average of $69.43. The company has a market capitalization of $29.76 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.58 and a beta of 0.72. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85.

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. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the company earned $0.68 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that TechnipFMC plc will post 3.09 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders 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 dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s payout ratio is 6.94%.

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.