TD Asset Management Inc Buys 29,874 Shares of TechnipFMC plc (NYSE:FTI)

Key Points

• TD Asset Management Inc increased its stake in TechnipFMC plc by 1.3%, acquiring an additional 29,874 shares for a total of 2,286,262 shares valued at approximately $72.45 million.
• TechnipFMC recently reported quarterly earnings of $0.68 EPS, exceeding expectations of $0.57 EPS, with a revenue of $2.53 billion.
• The company declared a quarterly dividend of $0.05 per share, representing an annualized yield of 0.55%, with the payment date set for September 3rd.

TD Asset Management Inc raised its position in TechnipFMC plc (NYSE:FTI - Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,286,262 shares of the oil and gas company's stock after acquiring an additional 29,874 shares during the quarter. TD Asset Management Inc owned approximately 0.55% of TechnipFMC worth $72,452,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its position in shares of TechnipFMC by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock valued at $1,220,288,000 after acquiring an additional 365,527 shares during the period. Ameriprise Financial Inc. increased its position in shares of TechnipFMC by 31.5% in the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock valued at $478,620,000 after acquiring an additional 3,962,315 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of TechnipFMC by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company's stock valued at $315,381,000 after acquiring an additional 202,599 shares during the period. Anomaly Capital Management LP increased its position in shares of TechnipFMC by 46.5% in the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock valued at $210,295,000 after acquiring an additional 2,306,342 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of TechnipFMC by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,920,929 shares of the oil and gas company's stock valued at $142,414,000 after acquiring an additional 138,556 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on FTI. BTIG Research cut shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Barclays boosted their price target on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.92.

Insider Activity

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the transaction, the director owned 62,978 shares in the company, 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 filing with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Stock Down 0.9%

FTI traded down $0.33 during midday trading on Thursday, reaching $36.44. The company's stock had a trading volume of 1,237,433 shares, compared to its average volume of 4,520,104. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.25 and a beta of 1.07. 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 1 year low of $22.11 and a 1 year high of $38.05. The stock's 50-day moving average is $33.74 and its 200-day moving average is $30.67.

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

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. TechnipFMC's dividend payout ratio is presently 9.43%.

TechnipFMC Profile

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.