Danica Pension Livsforsikringsaktieselskab Acquires New Shares in TechnipFMC plc $FTI

Key Points

• Danica Pension acquired 78,374 TechnipFMC shares worth approximately $5.2 million in the second quarter. Institutional investors collectively own 96.58% of the company, with BlackRock holding a newly acquired stake valued at about $3.08 billion.
• TechnipFMC reported quarterly EPS of $0.91, exceeding the $0.80 consensus estimate, while revenue rose 9% year over year to $2.76 billion. Shares opened at $78.39, near the 52-week high of $80.42.
• Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus and an average price target of $69.64. The company declared a quarterly dividend of $0.05 per share, and a director recently purchased nearly $500,000 of stock.

Danica Pension Livsforsikringsaktieselskab acquired a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 78,374 shares of the oil and gas company's stock, valued at approximately $5,196,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of TechnipFMC during the 2nd quarter valued at about $3,081,514,000. AQR Capital Management LLC grew its stake in shares of TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock worth $751,567,000 after acquiring an additional 3,549,839 shares during the period. State Street Corp lifted its position in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock valued at $508,276,000 after purchasing an additional 4,938,498 shares during the period. Invesco Ltd. lifted its position in TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company's stock valued at $502,284,000 after purchasing an additional 4,437,960 shares during the period. Finally, Boston Partners boosted its holdings in TechnipFMC by 2.0% in the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company's stock worth $389,018,000 after purchasing an additional 192,549 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $78.39 on Wednesday. TechnipFMC plc has a one year low of $34.27 and a one year high of $80.42. The stock's fifty day moving average is $70.72 and its 200 day moving average is $68.84. The stock has a market cap of $30.74 billion, a P/E ratio of 27.22, a P/E/G ratio of 1.62 and a beta of 0.72. 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 released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.TechnipFMC's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. Sell-side analysts anticipate that TechnipFMC plc will post 3.08 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Jefferies Financial Group restated a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. Barclays lifted their price objective on TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Citigroup increased their target price on TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Finally, Evercore reissued an "outperform" rating and issued a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of "Moderate Buy" and an average target price of $69.64.

Insider Activity

In other news, Director Eric D. Mullins bought 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the acquisition, the director 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 link. Company insiders own 1.40% of the company's stock.

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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