National Pension Service Buys Shares of 611,026 TechnipFMC plc $FTI

Key Points

• National Pension Service acquired 611,026 TechnipFMC shares worth approximately $40.5 million, giving it a 0.16% stake. Institutional investors collectively own 96.58% of the company.
• TechnipFMC reported quarterly EPS of $0.91, exceeding the $0.80 consensus estimate, while revenue rose 9% year over year to $2.76 billion.
• The company paid a quarterly dividend of $0.05 per share, equivalent to a $0.20 annualized payout and a 0.3% yield. Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating.

National Pension Service 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 611,026 shares of the oil and gas company's stock, valued at approximately $40,511,000. National Pension Service owned approximately 0.16% of TechnipFMC at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System grew its stake in TechnipFMC by 19,380.5% in the second quarter. California State Teachers Retirement System now owns 91,624,346 shares of the oil and gas company's stock worth $6,074,694,000 after purchasing an additional 91,154,007 shares in the last quarter. BlackRock Inc. acquired a new stake in TechnipFMC during the second quarter valued at approximately $3,081,514,000. AQR Capital Management LLC lifted its holdings in TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock worth $751,567,000 after buying an additional 3,549,839 shares during the last quarter. State Street Corp lifted 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 buying an additional 4,938,498 shares during the last quarter. Finally, Invesco Ltd. grew 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 acquiring an additional 4,437,960 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

Insider Buying and Selling

In other news, Director Eric Mullins purchased 6,365 shares of the company's stock in a transaction on Friday, August 14th. The shares were bought at an average price 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 $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. 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.

TechnipFMC Stock Performance

FTI stock opened at $76.37 on Friday. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.70. The stock has a market capitalization of $29.95 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The stock's fifty day moving average is $74.55 and its two-hundred day moving average is $71.04.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS 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 analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company's quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts predict that TechnipFMC plc will post 3.17 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were given a $0.05 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC's dividend payout ratio is 6.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FTI. Susquehanna lowered their price target on TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. Weiss Ratings upgraded TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday. Wall Street Zen downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.64.

TechnipFMC Profile

TechnipFMC plc NYSE: FTI is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.

The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.

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