513,622 Shares in TechnipFMC plc $FTI Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management acquired 513,622 TechnipFMC shares worth approximately $34.1 million, joining institutional investors that collectively own 96.58% of the company.
• TechnipFMC reported quarterly earnings of $0.91 per share and revenue of $2.76 billion, exceeding analyst expectations; revenue increased 9% year over year.
• The stock opened at $77.07, near its 52-week high, while analysts maintained a “Moderate Buy” consensus with an average price target of $69.64. The company also declared a quarterly dividend of $0.05 per share.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 513,622 shares of the oil and gas company's stock, valued at approximately $34,053,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of TechnipFMC as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FTI. ANB Bank increased 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 purchasing an additional 161 shares during the last quarter. PFG Investments LLC raised its position 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 acquiring an additional 165 shares during the period. Independent Advisor Alliance raised its position in TechnipFMC by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company's stock worth $2,730,000 after acquiring an additional 184 shares during the period. Evolve Private Wealth LLC boosted its stake in shares of TechnipFMC by 0.7% during the 1st quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company's stock worth $2,411,000 after acquiring an additional 227 shares during the last quarter. Finally, Caerus Investment Advisors LLC grew its position in shares of TechnipFMC by 1.1% during the 1st quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company's stock valued at $1,661,000 after acquiring an additional 259 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Down 1.6%

Shares of FTI opened at $77.07 on Thursday. The stock has a market capitalization of $30.23 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 1.61 and a beta of 0.72. TechnipFMC plc has a 1 year low of $34.27 and a 1 year high of $80.55. The business's 50 day simple moving average is $70.86 and its 200-day simple moving average is $68.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm posted $0.68 earnings per share. TechnipFMC's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities analysts expect that TechnipFMC plc will post 3.08 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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 paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC's dividend payout ratio (DPR) is presently 6.94%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. This represents a 373.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Jefferies Financial Group restated a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Royal Bank Of Canada raised their price objective on TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Evercore reaffirmed an "outperform" rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. Finally, Citigroup boosted their price objective on TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.64.

TechnipFMC 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.

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