TechnipFMC plc (NYSE:FTI) Shares Acquired by AGF Management Ltd.

Key Points

• AGF Management Ltd. increased its stake in TechnipFMC by 8.5%, now owning about 0.08% of the company valued at $11.06 million after purchasing an additional 27,265 shares.
• TechnipFMC recently reported an EPS of $0.68 for the quarter, surpassing analyst estimates by $0.11, with a quarterly revenue increase of 9.0% year-over-year.
• The company declared a quarterly dividend of $0.05 per share, to be paid on September 3rd, representing an annual yield of 0.6%.

AGF Management Ltd. lifted its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 8.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 349,125 shares of the oil and gas company's stock after purchasing an additional 27,265 shares during the quarter. AGF Management Ltd. owned about 0.08% of TechnipFMC worth $11,064,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in shares of TechnipFMC during the first quarter worth about $33,000. Quarry LP lifted its position in shares of TechnipFMC by 95.9% during the fourth quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock worth $74,000 after purchasing an additional 1,248 shares in the last quarter. GAMMA Investing LLC raised its holdings in TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after acquiring an additional 614 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in TechnipFMC by 346.7% in the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after acquiring an additional 2,219 shares in the last quarter. Finally, Acuitas Investments LLC raised its holdings in TechnipFMC by 13.4% in the first quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock valued at $108,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Activity

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm'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 transaction of $348,222.72. Following the transaction, the director directly owned 62,978 shares in the company, valued at approximately $2,337,743.36. This trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI traded down $0.08 during mid-day trading on Wednesday, reaching $35.04. 2,006,233 shares of the company's stock were exchanged, compared to its average volume of 4,320,360. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. The stock has a market capitalization of $14.40 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04. The business's fifty day simple moving average is $34.68 and its 200-day simple moving average is $30.89. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $38.05.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its 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 analyst estimates of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, equities research analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced 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 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 (DPR) is 9.43%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FTI. Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a report on Thursday, May 22nd. Evercore ISI raised their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Royal Bank Of Canada raised their target price on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and issued a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Finally, Susquehanna raised their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TechnipFMC currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.92.

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.