AGF Management Ltd. Buys 27,265 Shares of TechnipFMC plc (NYSE:FTI)

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 first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,125 shares of the oil and gas company's stock after buying an additional 27,265 shares during the quarter. AGF Management Ltd. owned about 0.08% of TechnipFMC worth $11,064,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. T. Rowe Price Investment Management Inc. lifted its stake in shares of TechnipFMC by 0.9% during the 4th 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 buying an additional 365,527 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of TechnipFMC by 31.5% during the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock valued at $478,620,000 after buying an additional 3,962,315 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in TechnipFMC by 2.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company's stock worth $315,381,000 after purchasing an additional 202,599 shares in the last quarter. Invesco Ltd. lifted its stake in TechnipFMC by 18.0% in the 1st quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company's stock worth $236,371,000 after purchasing an additional 1,136,554 shares in the last quarter. Finally, Anomaly Capital Management LP lifted its stake in TechnipFMC by 46.5% in the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after purchasing an additional 2,306,342 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FTI shares. Susquehanna increased their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Barclays increased their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. 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 research note on Thursday, May 22nd. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Citigroup reiterated a "buy" rating and issued a $41.00 target price (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.92.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction 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 sale, the director owned 62,978 shares of the company's stock, valued at $2,337,743.36. This trade represents a 12.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

TechnipFMC Trading Down 1.7%

Shares of FTI stock traded down $0.59 on Friday, hitting $35.01. 2,983,507 shares of the company's stock traded hands, compared to its average volume of 4,004,726. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. TechnipFMC plc has a one year low of $22.11 and a one year high of $38.05. The company's fifty day simple moving average is $34.80 and its 200 day simple moving average is $30.95. The stock has a market capitalization of $14.39 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.17 and a beta of 1.04.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.57 by $0.11. The company 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 firm's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 EPS. Equities analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, August 19th. TechnipFMC's dividend payout ratio (DPR) is 9.43%.

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.