Ninety One UK Ltd Acquires New Position in TechnipFMC plc $FTI

Ninety One UK Ltd acquired a new stake in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,660 shares of the oil and gas company’s stock, valued at approximately $520,000.

Several other hedge funds also recently modified their holdings of the stock. ANB Bank lifted its position in shares of TechnipFMC by 3.4% during the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock valued at $339,000 after acquiring an additional 161 shares during the period. PFG Investments LLC grew its holdings in TechnipFMC by 2.4% in the first quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock worth $495,000 after purchasing an additional 165 shares during the period. Evolve Private Wealth LLC grew its holdings in TechnipFMC by 0.7% in the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after purchasing an additional 227 shares during the period. Caerus Investment Advisors LLC grew its holdings in TechnipFMC by 1.1% in the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company’s stock worth $1,661,000 after purchasing an additional 259 shares during the period. Finally, SJS Investment Consulting Inc. increased its stake in TechnipFMC by 33.1% in the first quarter. SJS Investment Consulting Inc. now owns 1,484 shares of the oil and gas company’s stock valued at $103,000 after purchasing an additional 369 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In other TechnipFMC news, Director Eric Mullins acquired 6,365 shares of the company’s stock in a transaction on Friday, August 14th. The shares were purchased 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 owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. This represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thierry Conti sold 6,000 shares of TechnipFMC stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the transaction, the insider owned 85,813 shares of the company’s stock, valued at $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FTI. Barclays dropped their price objective on shares of TechnipFMC from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Susquehanna reduced their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. UBS Group initiated coverage on TechnipFMC in a research note on Monday. They issued a “buy” rating and a $89.00 target price for the company. Finally, Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $74.83.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $68.22 on Friday. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.70. The stock’s 50 day moving average is $73.88 and its 200-day moving average is $71.84. 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 firm has a market capitalization of $26.75 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.11 and a beta of 0.83.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the firm posted $0.68 EPS. TechnipFMC’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that TechnipFMC plc will post 3.20 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

TechnipFMC Profile

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.