Allianz Asset Management GmbH Has $618,000 Stock Holdings in TechnipFMC plc (NYSE:FTI)

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 lifted its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 64.0% during the first quarter, according to its most recent 13F filing with the 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.

A number of other institutional investors have also made changes to their positions in FTI. Commonwealth Equity Services LLC increased its position in TechnipFMC by 49.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,206 shares of the oil and gas company's stock worth $411,000 after buying an additional 4,684 shares during the period. Pictet Asset Management Holding SA increased its position in TechnipFMC by 14.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 63,575 shares of the oil and gas company's stock worth $1,840,000 after buying an additional 7,830 shares during the period. Schroder Investment Management Group bought a new position in TechnipFMC in the 4th quarter worth approximately $4,916,000. Massachusetts Financial Services Co. MA increased its position in TechnipFMC by 15.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock worth $282,150,000 after buying an additional 1,319,015 shares during the period. Finally, Westpac Banking Corp bought a new position in TechnipFMC in the 4th quarter worth approximately $55,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

FTI stock traded up $0.35 during trading on Monday, hitting $35.67. The company had a trading volume of 2,051,074 shares, compared to its average volume of 4,661,027. The company has a fifty day moving average price of $33.99 and a two-hundred day moving average price of $30.70. 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 company has a market cap of $14.66 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.16 and a beta of 1.04. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $38.05.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The business's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Equities research analysts expect that TechnipFMC plc will post 1.63 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 3rd. Shareholders of record on Tuesday, August 19th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. TechnipFMC's payout ratio is currently 9.43%.

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business's 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 transaction, the director owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Royal Bank Of Canada boosted their price objective on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Barclays boosted their price objective on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Evercore ISI boosted their price objective on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.92.

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.