Daiichi Life Insurance Co. Ltd. Buys New Holdings in TechnipFMC plc $FTI

Key Points

• Daiichi Life Insurance acquired 15,618 TechnipFMC shares in the second quarter, valued at approximately $1.04 million. Institutional investors collectively own 96.58% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $69.64, while individual targets reached as high as $83.00.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 in earnings per share and $2.76 billion in revenue, up 9% year over year. The company also declared a quarterly dividend of $0.05 per share.

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 15,618 shares of the oil and gas company's stock, valued at approximately $1,035,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ANB Bank increased its holdings in shares of TechnipFMC by 3.4% during the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company's stock worth $339,000 after acquiring an additional 161 shares during the last quarter. PFG Investments LLC boosted its position in TechnipFMC by 2.4% during the first quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company's stock worth $495,000 after purchasing an additional 165 shares during the period. Independent Advisor Alliance increased its holdings in shares of TechnipFMC by 0.3% in 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 during the last quarter. Evolve Private Wealth LLC increased its holdings in shares of TechnipFMC by 0.7% in 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 during the last quarter. Finally, Caerus Investment Advisors LLC raised its position in shares of TechnipFMC by 1.1% in the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company's stock valued at $1,661,000 after purchasing an additional 259 shares during the period. Institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

FTI has been the subject of a number of research reports. Evercore restated an "outperform" rating and set a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings upgraded shares of TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research report on Thursday, August 13th. Royal Bank Of Canada boosted their price objective on TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, UBS Group set a $80.00 target price on TechnipFMC in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of "Moderate Buy" and an average target price of $69.64.

Insider Activity

In related news, Director Eric D. Mullins purchased 6,365 shares of TechnipFMC stock in a transaction that occurred 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 completion of the transaction, the director directly owned 8,070 shares of the company's stock, valued at $633,898.50. This represents a 373.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company's stock.

TechnipFMC Trading Down 2.0%

FTI stock opened at $75.90 on Tuesday. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.55. The company has a market capitalization of $29.76 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 1.58 and a beta of 0.72. The company's 50-day simple moving average is $71.29 and its 200 day simple moving average is $69.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08.

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 for the quarter, topping the consensus estimate 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 analysts' expectations of $2.67 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The business's revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that TechnipFMC plc will post 3.09 earnings per share for the current year.

TechnipFMC Announces Dividend

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