Prudential PLC Buys Shares of 24,112 TechnipFMC plc (NYSE:FTI)

Key Points

• Prudential PLC has acquired a new stake in TechnipFMC plc, purchasing 24,112 shares valued at approximately $764,000 as per their recent SEC filing.
• Several institutional investors have significantly increased their holdings in TechnipFMC, with Marshall Wace LLP boosting its position by 4,802.2% to own 415,610 shares, valued at $12.03 million.
• Analysts have shown confidence in TechnipFMC, with a consensus price target of $38.92 and a majority rating of "buy" or higher from multiple brokerages.

Prudential PLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,112 shares of the oil and gas company's stock, valued at approximately $764,000.

Several other large investors have also modified their holdings of FTI. Mariner LLC boosted its position in shares of TechnipFMC by 12.6% during the fourth quarter. Mariner LLC now owns 25,219 shares of the oil and gas company's stock valued at $730,000 after buying an additional 2,819 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of TechnipFMC by 22.9% in the fourth quarter. NewEdge Advisors LLC now owns 107,541 shares of the oil and gas company's stock valued at $3,112,000 after purchasing an additional 20,073 shares during the period. Marshall Wace LLP boosted its holdings in shares of TechnipFMC by 4,802.2% in the fourth quarter. Marshall Wace LLP now owns 415,610 shares of the oil and gas company's stock valued at $12,028,000 after purchasing an additional 407,132 shares during the period. Farringdon Capital Ltd. purchased a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $214,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of TechnipFMC by 88.2% in the fourth quarter. Canada Pension Plan Investment Board now owns 287,800 shares of the oil and gas company's stock valued at $8,329,000 after purchasing an additional 134,900 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FTI. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. BTIG Research lowered TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Citigroup reiterated a "buy" rating and issued a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Royal Bank Of Canada boosted their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Evercore ISI boosted their price target on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.92.

TechnipFMC Stock Performance

Shares of FTI stock opened at $35.01 on Friday. The business's fifty day simple moving average is $34.80 and its 200-day simple moving average is $30.95. The company has a market cap of $14.39 billion, a PE ratio of 16.51, a PEG ratio of 1.17 and a beta of 1.04. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $38.05.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The business's quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 earnings per share. Analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. TechnipFMC's dividend payout ratio is presently 9.43%.

Insider Activity

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the transaction, the director directly owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.

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