2,026,414 Shares in TechnipFMC plc (NYSE:FTI) Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired 2,026,414 shares of TechnipFMC plc, valued at approximately $64.2 million, increasing their ownership to about 0.48% of the company.
• TechnipFMC reported a quarterly earnings per share of $0.68, exceeding expectations and showing a notable 9.0% revenue increase compared to the previous year.
• The company also announced a dividend of $0.05 per share, reflecting a 0.6% annual yield and a payout ratio of 9.43%.

Nuveen LLC purchased a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,026,414 shares of the oil and gas company's stock, valued at approximately $64,217,000. Nuveen LLC owned about 0.48% of TechnipFMC at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of TechnipFMC by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock worth $1,220,288,000 after buying an additional 365,527 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of TechnipFMC by 31.5% in the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after buying an additional 3,962,315 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of TechnipFMC by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company's stock worth $315,381,000 after buying an additional 202,599 shares during the last quarter. Invesco Ltd. increased its stake in shares of TechnipFMC by 18.0% in the first quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company's stock worth $236,371,000 after buying an additional 1,136,554 shares during the last quarter. Finally, Anomaly Capital Management LP increased its stake in shares of TechnipFMC by 46.5% in the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after buying an additional 2,306,342 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

Wall Street Analyst Weigh In

FTI has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. BTIG Research lowered shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Barclays boosted their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC has a consensus rating of "Moderate Buy" and a consensus target price of $38.92.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the sale, the director owned 62,978 shares of the company's stock, valued at $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is owned by insiders.

TechnipFMC Stock Performance

Shares of FTI opened at $35.04 on Thursday. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. The firm has a fifty day moving average of $34.68 and a 200-day moving average of $30.89.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 earnings per share. As a group, equities analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.20 annualized dividend and a yield of 0.6%. TechnipFMC's dividend payout ratio is presently 9.43%.

TechnipFMC Profile

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.

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