Mirae Asset Global Investments Co. Ltd. Acquires 9,325 Shares of TechnipFMC plc $FTI

Mirae Asset Global Investments Co. Ltd. bought a new stake in TechnipFMC plc (NYSE:FTI) in the third quarter, HoldingsChannel.com reports. The firm bought 9,325 shares of the oil and gas company’s stock, valued at approximately $633,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FTI. MGO One Seven LLC increased its holdings in TechnipFMC by 8.1% during the 3rd quarter. MGO One Seven LLC now owns 24,284 shares of the oil and gas company’s stock worth $1,649,000 after purchasing an additional 1,821 shares during the period. Soltis Investment Advisors LLC boosted its stake in shares of TechnipFMC by 5.9% in the 3rd quarter. Soltis Investment Advisors LLC now owns 6,761 shares of the oil and gas company’s stock valued at $459,000 after buying an additional 375 shares during the period. WPG Advisers LLC boosted its stake in shares of TechnipFMC by 686.9% in the 3rd quarter. WPG Advisers LLC now owns 1,920 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 1,676 shares during the period. Asset Management One Co. Ltd. grew its position in shares of TechnipFMC by 15.6% during the third quarter. Asset Management One Co. Ltd. now owns 194,735 shares of the oil and gas company’s stock worth $13,226,000 after buying an additional 26,339 shares in the last quarter. Finally, Latitude Advisors LLC acquired a new position in shares of TechnipFMC during the third quarter worth about $41,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TechnipFMC

In related news, Director Eric D. Mullins acquired 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director directly owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is owned by company insiders.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $63.57 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a 52 week low of $41.73 and a 52 week high of $80.70. The firm’s 50 day moving average is $71.17 and its two-hundred day moving average is $69.31. The firm has a market capitalization of $24.72 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.99 and a beta of 0.89.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.17. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Research analysts forecast that TechnipFMC plc will post 3.28 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Tuesday, November 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, November 17th. TechnipFMC’s dividend payout ratio (DPR) is currently 6.29%.

Analysts Set New Price Targets

FTI has been the topic of a number of recent research reports. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Citigroup lifted their price target on shares of TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Piper Sandler lifted their price target on shares of TechnipFMC from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. UBS Group assumed coverage on shares of TechnipFMC in a report on Monday, October 12th. They set a “buy” rating and a $89.00 price target for the company. Finally, Barclays increased their price objective on shares of TechnipFMC from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $78.18.

TechnipFMC Profile

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services.

Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.

The company was formed in 2017 through the combination of Technip and FMC Technologies.