Assenagon Asset Management S.A. Purchases New Position in TechnipFMC plc $FTI

Key Points

• Assenagon Asset Management purchased 20,009 TechnipFMC shares worth approximately $1.33 million, while institutional investors collectively own 96.58% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and three Holds giving TechnipFMC a “Moderate Buy” consensus and an average price target of $69.64.
• TechnipFMC reported quarterly EPS of $0.91, beating estimates of $0.80, while revenue rose 9% year over year to $2.76 billion; the company also declared a quarterly dividend of $0.05 per share.

Assenagon Asset Management S.A. purchased a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,009 shares of the oil and gas company's stock, valued at approximately $1,327,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of TechnipFMC in the 1st quarter valued at $26,000. Ascentis Independent Advisors purchased a new position in shares of TechnipFMC in the 1st quarter worth approximately $37,000. First Pacific Financial bought a new position in shares of TechnipFMC during the 1st quarter worth approximately $52,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC during the third quarter valued at approximately $32,000. Finally, Summit Securities Group LLC acquired a new stake in TechnipFMC in the first quarter valued at approximately $60,000. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FTI shares. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Royal Bank Of Canada lifted their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Barclays raised their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Finally, Weiss Ratings lowered TechnipFMC from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and an average target price of $69.64.

TechnipFMC Stock Up 2.6%

FTI stock opened at $78.63 on Friday. TechnipFMC plc has a 52 week low of $34.27 and a 52 week high of $79.23. The firm has a 50-day simple moving average of $70.30 and a 200-day simple moving average of $68.41. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $30.84 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.58 and a beta of 0.72.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts forecast that TechnipFMC plc will post 3.06 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC's dividend payout ratio is currently 6.94%.

About TechnipFMC

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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