Bank of New York Mellon Corp Makes New Investment in TechnipFMC plc $FTI

Key Points

• Bank of New York Mellon acquired 2.61 million TechnipFMC shares in the second quarter, worth approximately $173.3 million and representing about 0.67% of the company. Institutional investors collectively own 96.58% of FTI.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $69.64, although Susquehanna reduced its target to $85.00. TechnipFMC also reported quarterly EPS of $0.91, exceeding estimates, while revenue rose 9% year over year to $2.76 billion.
• Director Eric D. Mullins purchased 6,365 shares for nearly $500,000, significantly increasing his holdings. TechnipFMC declared a quarterly dividend of $0.05 per share, equating to a 0.3% annualized yield.

Bank of New York Mellon Corp acquired a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,613,302 shares of the oil and gas company's stock, valued at approximately $173,262,000. Bank of New York Mellon Corp owned approximately 0.67% of TechnipFMC as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. ANB Bank lifted its position in TechnipFMC by 3.4% during the first quarter. ANB Bank now owns 4,903 shares of the oil and gas company's stock worth $339,000 after purchasing an additional 161 shares during the period. PFG Investments LLC increased its stake 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 valued at $495,000 after acquiring an additional 165 shares during the last quarter. Independent Advisor Alliance raised its position in TechnipFMC by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company's stock valued at $2,730,000 after purchasing an additional 184 shares in the last quarter. Evolve Private Wealth LLC raised its position in TechnipFMC by 0.7% during the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company's stock valued at $2,411,000 after purchasing an additional 227 shares in the last quarter. Finally, Caerus Investment Advisors LLC lifted its stake in TechnipFMC by 1.1% during the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company's stock worth $1,661,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. The Goldman Sachs Group reiterated a "buy" rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. 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 research note on Wednesday, July 8th. Zacks Research lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. One 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.64.

Insider Activity

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $78.55 per share, with a total value of $499,970.75. Following the acquisition, the director directly owned 8,070 shares of the company's stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

TechnipFMC Stock Performance

FTI opened at $77.62 on Friday. The company has a fifty day moving average price of $71.14 and a two-hundred day moving average price of $69.21. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55. The company has a market cap of $30.44 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 1.58 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI - Get Free Report) last issued 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 firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business's revenue was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Analysts predict that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

TechnipFMC Company 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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