Amundi Buys 1,832,581 Shares of TechnipFMC plc $FTI

Key Points

• Amundi increased its TechnipFMC stake by 72.6% in the second quarter, purchasing 1.83 million additional shares and ending the period with 4.36 million shares worth approximately $288.9 million.
• TechnipFMC reported quarterly EPS of $0.91 and revenue of $2.76 billion, beating analyst estimates while revenue rose 9% year over year. Director Eric Mullins also purchased nearly $500,000 of company stock.
• Analyst sentiment remains positive, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus, though the average price target of $69.64 is below the stock’s reported $79.66 opening price.

Amundi boosted its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 72.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,358,115 shares of the oil and gas company's stock after purchasing an additional 1,832,581 shares during the quarter. Amundi owned about 1.11% of TechnipFMC worth $288,943,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FTI. V Square Quantitative Management LLC acquired a new stake in TechnipFMC in the first quarter valued at about $26,000. Coppell Advisory Solutions LLC acquired a new position in TechnipFMC during the second quarter worth about $35,000. Ascentis Independent Advisors bought a new position in shares of TechnipFMC in the first quarter worth about $37,000. Keating Financial Advisory Services Inc. bought a new position in shares of TechnipFMC in the second quarter worth about $37,000. Finally, Ameritas Advisory Services LLC acquired a new position in TechnipFMC during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In other news, Director Eric Mullins bought 6,365 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director directly owned 8,070 shares of the company's stock, valued at approximately $633,898.50. This represents a 373.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $79.66 on Tuesday. The business has a 50-day moving average price of $73.69 and a two-hundred day moving average price of $70.69. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.70. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The company has a market cap of $31.24 billion, a P/E ratio of 27.66, a PEG ratio of 1.59 and a beta of 0.74.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm's revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. As a group, analysts anticipate that TechnipFMC plc will post 3.17 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were paid a $0.05 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is currently 6.94%.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Susquehanna dropped their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. The Goldman Sachs Group reiterated a "buy" rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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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