Nuveen LLC Purchases Shares of 2,026,414 TechnipFMC plc $FTI

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

A number of other large investors have also recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new stake in shares of TechnipFMC in the 1st quarter valued at about $1,056,000. Invesco Ltd. increased its position in TechnipFMC by 18.0% during 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. Sierra Summit Advisors LLC raised its stake in TechnipFMC by 13.9% in the first quarter. Sierra Summit Advisors LLC now owns 25,302 shares of the oil and gas company's stock valued at $802,000 after buying an additional 3,080 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of TechnipFMC in the first quarter valued at approximately $5,427,000. Finally, Townsquare Capital LLC boosted its stake in shares of TechnipFMC by 8.7% during the 1st quarter. Townsquare Capital LLC now owns 238,130 shares of the oil and gas company's stock worth $7,546,000 after acquiring an additional 19,116 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

Analysts Set New Price Targets

FTI has been the topic of a number of research analyst reports. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Citigroup reissued a "buy" rating and issued a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. BTIG Research lowered shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Evercore ISI increased their target price on TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada boosted their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and a consensus target price of $38.92.

TechnipFMC Price Performance

FTI stock traded up $0.27 during mid-day trading on Monday, hitting $35.26. The stock had a trading volume of 681,111 shares, compared to its average volume of 4,369,539. The firm has a fifty day simple moving average of $34.80 and a 200 day simple moving average of $30.96. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $38.05. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $14.49 billion, a P/E ratio of 16.63, a P/E/G ratio of 1.14 and a beta of 1.04.

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

TechnipFMC Dividend Announcement

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

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the transaction, the director directly owned 62,978 shares in the company, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

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.