Deutsche Bank AG Invests $73.22 Million in TechnipFMC plc $FTI

Key Points

• Deutsche Bank acquired 1.1 million TechnipFMC shares worth approximately $73.2 million, while institutional investors and hedge funds collectively own 96.58% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $69.64. TechnipFMC recently exceeded quarterly earnings and revenue expectations, reporting $0.91 EPS and $2.76 billion in revenue.
• TechnipFMC declared a quarterly dividend of $0.05 per share, representing a $0.20 annualized payout and a 0.3% yield; a company director also purchased nearly $500,000 worth of shares.

Deutsche Bank AG purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,104,380 shares of the oil and gas company's stock, valued at approximately $73,220,000. Deutsche Bank AG owned about 0.28% of TechnipFMC at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FTI. State Street Corp grew its holdings in TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock worth $508,276,000 after acquiring an additional 4,938,498 shares during the period. Norges Bank acquired a new position in shares of TechnipFMC in the 4th quarter valued at $205,468,000. Invesco Ltd. boosted its position in shares of TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company's stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of TechnipFMC by 26.7% during 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 purchasing an additional 3,549,839 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of TechnipFMC during the second quarter worth $173,262,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FTI. Zacks Research lowered TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. UBS Group set a $80.00 price target on TechnipFMC in a research note on Wednesday, June 3rd. Evercore reiterated an "outperform" rating and issued a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. Finally, Citigroup boosted their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.64.

TechnipFMC Stock Up 0.7%

Shares of FTI stock opened at $77.55 on Friday. 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 plc has a 1 year low of $34.67 and a 1 year high of $80.55. The firm's fifty day moving average price is $71.00 and its two-hundred day moving average price is $69.15. The firm has a market capitalization of $30.41 billion, a P/E ratio of 26.93, a PEG ratio of 1.58 and a beta of 0.72.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company's quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. On average, equities analysts predict that TechnipFMC plc will post 3.08 EPS for the current fiscal 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 given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC's dividend payout ratio is 6.94%.

Insider Buying and Selling

In related news, Director Eric D. Mullins purchased 6,365 shares of the firm's stock in a transaction on Friday, August 14th. The stock was purchased 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 directly owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.40% of the company's stock.

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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