TechnipFMC plc (NYSE:FTI) Holdings Raised by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has increased its stake in TechnipFMC plc by 64% during the first quarter, now owning 19,497 shares valued at approximately $618,000.
• TechnipFMC reported earnings of $0.68 per share, exceeding analysts' expectations, and had a revenue of $2.53 billion for the quarter, marking a 9.0% increase year-over-year.
• The company declared a quarterly dividend of $0.05, with a record date of August 19, representing an annual yield of 0.6% and a payout ratio of 9.43%.

Allianz Asset Management GmbH increased its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 64.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,497 shares of the oil and gas company's stock after acquiring an additional 7,612 shares during the period. Allianz Asset Management GmbH's holdings in TechnipFMC were worth $618,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FTI. Bank of New York Mellon Corp grew its stake in TechnipFMC by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company's stock valued at $46,360,000 after acquiring an additional 8,823 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of TechnipFMC during the first quarter worth approximately $205,000. Stephens Investment Management Group LLC increased its position in shares of TechnipFMC by 0.8% during the first quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company's stock worth $109,001,000 after acquiring an additional 27,884 shares during the period. New York State Teachers Retirement System purchased a new position in shares of TechnipFMC in the 1st quarter worth approximately $33,000. Finally, Farther Finance Advisors LLC grew its position in TechnipFMC by 346.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after purchasing an additional 2,219 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

Wall Street Analyst Weigh In

FTI has been the topic of several analyst reports. BTIG Research lowered shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Barclays increased their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Citigroup reaffirmed a "buy" rating and set a $41.00 target price (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.92.

TechnipFMC Price Performance

Shares of NYSE:FTI traded up $0.08 on Wednesday, reaching $35.57. 903,443 shares of the company were exchanged, compared to its average volume of 4,479,672. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.04. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $38.05. The company has a 50-day moving average of $34.22 and a 200-day moving average of $30.75. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results 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 company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm earned $0.43 EPS. The firm's quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be given 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 (DPR) is 9.43%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction that occurred on 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 trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

TechnipFMC Company 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.