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 second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 53,885 shares of the oil and gas company’s stock, valued at approximately $3,573,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in TechnipFMC during the 1st quarter worth about $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. increased its position 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 acquiring an additional 340 shares during the last quarter. Ascentis Independent Advisors bought a new stake in TechnipFMC during the first quarter worth about $37,000. Finally, Keating Financial Advisory Services Inc. bought a new position in TechnipFMC in the second quarter valued at approximately $37,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Up 3.2%

TechnipFMC stock opened at $78.27 on Tuesday. 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 company has a market capitalization of $30.69 billion, a PE ratio of 27.18, a PEG ratio of 1.55 and a beta of 0.72. The firm’s fifty day moving average is $72.29 and its 200 day moving average is $70.06. TechnipFMC plc has a 12-month low of $35.29 and a 12-month high of $80.55.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm 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 quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, sell-side analysts predict that TechnipFMC plc will post 3.09 EPS for the current fiscal 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 dividend of $0.05 per share. The ex-dividend date is 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%.

Wall Street Analyst Weigh In

FTI has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Susquehanna decreased their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.64.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

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.