Danske Bank A S Takes $163.82 Million Position in TechnipFMC plc $FTI

Key Points

• Danske Bank A/S bought 2.47 million TechnipFMC shares worth approximately $163.8 million, representing about 0.63% of the company. Institutional investors collectively own 96.58% of FTI.
• TechnipFMC reported quarterly EPS of $0.91, surpassing the $0.80 consensus estimate, while revenue reached $2.76 billion and grew 9% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $69.64 target price. The company also declared a quarterly dividend of $0.05 per share, equivalent to a 0.3% annual yield.

Danske Bank A S bought a new stake 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 bought 2,470,922 shares of the oil and gas company's stock, valued at approximately $163,822,000. Danske Bank A S owned about 0.63% of TechnipFMC as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ANB Bank raised its stake in TechnipFMC by 3.4% in the first quarter. ANB Bank now owns 4,903 shares of the oil and gas company's stock valued at $339,000 after buying an additional 161 shares during the period. PFG Investments LLC boosted its stake in shares of TechnipFMC by 2.4% during the 1st quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company's stock worth $495,000 after acquiring an additional 165 shares during the period. Independent Advisor Alliance boosted its stake in shares of TechnipFMC by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company's stock worth $2,730,000 after acquiring an additional 184 shares during the period. Evolve Private Wealth LLC increased its holdings in shares of TechnipFMC by 0.7% during the 1st quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company's stock worth $2,411,000 after acquiring an additional 227 shares during the last quarter. Finally, Caerus Investment Advisors LLC raised its stake in TechnipFMC by 1.1% in the 1st quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company's stock valued at $1,661,000 after acquiring an additional 259 shares during the period. Institutional investors own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins purchased 6,365 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director owned 8,070 shares of the company's stock, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FTI. Weiss Ratings raised TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. Susquehanna dropped their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. Citigroup increased their price objective 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. The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.64.

TechnipFMC Stock Performance

NYSE:FTI opened at $78.39 on Wednesday. The stock has a 50 day simple moving average of $70.72 and a 200 day simple moving average of $68.84. The stock has a market cap of $30.74 billion, a P/E ratio of 27.22, a PEG ratio of 1.62 and a beta of 0.72. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $80.42. 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 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. The firm had revenue of $2.76 billion for 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%.The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. Research analysts anticipate that TechnipFMC plc will post 3.08 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced 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. 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%.

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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