TechnipFMC plc $FTI Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group sharply increased its TechnipFMC stake in the third quarter, buying 2.62 million additional shares. It now holds about 2.68 million shares, valued at roughly $182 million.
• Other institutional investors also added shares, and institutions and hedge funds collectively own 96.58% of the company. An insider separately sold 6,000 shares under a pre-arranged trading plan.
• TechnipFMC beat quarterly earnings and revenue expectations, reporting $1.05 per share and $2.90 billion in revenue; sales rose 9.4% year over year. Analysts’ consensus rating is “Buy,” with an average price target of $78.18.

Aberdeen Group plc increased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 3,983.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,682,761 shares of the oil and gas company's stock after purchasing an additional 2,617,064 shares during the quarter. Aberdeen Group plc owned approximately 0.69% of TechnipFMC worth $182,213,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in FTI. BlackRock Inc. purchased a new position in TechnipFMC in the 2nd quarter worth approximately $3,081,514,000. Amundi increased its holdings in shares of TechnipFMC by 72.6% during the 2nd quarter. Amundi now owns 4,358,115 shares of the oil and gas company's stock worth $288,943,000 after buying an additional 1,832,581 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $226,069,000. Bank of New York Mellon Corp lifted its holdings in TechnipFMC by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 2,878,798 shares of the oil and gas company's stock valued at $199,011,000 after acquiring an additional 194,799 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in TechnipFMC by 195.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,791,873 shares of the oil and gas company's stock valued at $189,624,000 after acquiring an additional 1,847,158 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TechnipFMC

In related news, insider Thierry Conti sold 6,000 shares of the firm's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares in the company, valued at $6,165,664.05. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by company insiders.

TechnipFMC Stock Performance

Shares of FTI opened at $66.06 on Friday. The stock has a market capitalization of $25.69 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.01 and a beta of 0.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 1.09. TechnipFMC plc has a 1 year low of $42.46 and a 1 year high of $80.70. The company's fifty day moving average is $69.83 and its two-hundred day moving average is $69.57.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.17. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that TechnipFMC plc will post 3.31 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio is 6.29%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. UBS Group assumed coverage on shares of TechnipFMC in a research report on Monday, October 12th. They issued a "buy" rating and a $89.00 target price on the stock. Weiss Ratings downgraded shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, October 30th. Barclays upped their price objective on shares of TechnipFMC from $86.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Citigroup lifted their target price on shares of TechnipFMC from $80.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, September 15th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $78.18.

TechnipFMC Company Profile

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.

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