Rakuten Investment Management Inc. Makes New Investment in TechnipFMC plc $FTI

Key Points

• Rakuten Investment Management bought 25,923 TechnipFMC shares in the third quarter, valued at approximately $1.785 million. Institutional investors and hedge funds hold 96.58% of the company’s stock.
• TechnipFMC beat quarterly earnings and revenue expectations, reporting EPS of $1.05 versus the $0.88 consensus and revenue of $2.90 billion; revenue rose 9.4% year over year.
• Analysts’ average rating was Buy, with an average price target of $78.18. The company also announced a quarterly dividend of $0.05 per share.

Rakuten Investment Management Inc. bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,923 shares of the oil and gas company's stock, valued at approximately $1,785,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in TechnipFMC during the second quarter valued at about $3,081,514,000. Bank of America Corp DE purchased a new position in shares of TechnipFMC in the 2nd quarter worth about $226,069,000. Bank of New York Mellon Corp purchased a new position in shares of TechnipFMC in the 2nd quarter worth about $173,262,000. Danske Bank A S purchased a new position in shares of TechnipFMC in the 2nd quarter worth about $163,822,000. Finally, Legal & General Group Plc acquired a new position in shares of TechnipFMC in the 2nd quarter valued at about $149,673,000. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Up 3.2%

Shares of NYSE FTI opened at $63.57 on Friday. The stock has a fifty day moving average price of $71.17 and a 200 day moving average price of $69.31. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a 12-month low of $41.73 and a 12-month high of $80.70. The company has a market cap of $24.72 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.99 and a beta of 0.89.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.17. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The company had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.79 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that TechnipFMC plc will post 3.28 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Tuesday, November 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, November 17th. TechnipFMC's dividend payout ratio (DPR) is presently 6.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FTI shares. Barclays lifted their price objective on TechnipFMC from $86.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, November 2nd. Weiss Ratings downgraded shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, October 30th. UBS Group began coverage on shares of TechnipFMC in a report on Monday, October 12th. They issued a "buy" rating and a $89.00 price target on the stock. Citigroup lifted their price target on shares of TechnipFMC from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, September 15th. Finally, Piper Sandler boosted their price objective on shares of TechnipFMC from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $78.18.

Insider Activity

In other news, insider Thierry Conti sold 6,000 shares of the business's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the transaction, the insider directly owned 85,813 shares of the company's stock, valued at approximately $6,165,664.05. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Mullins purchased 6,365 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following 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 SEC filing for this purchase provides additional information. Company insiders own 1.40% of the company's stock.

About TechnipFMC

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services.

Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.

The company was formed in 2017 through the combination of Technip and FMC Technologies.

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