Mirae Asset Global Investments Co. Ltd. Makes New $633,000 Investment in TechnipFMC plc $FTI

Mirae Asset Global Investments Co. Ltd. bought a new stake in TechnipFMC plc (NYSE:FTI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,325 shares of the oil and gas company’s stock, valued at approximately $633,000.

Several other large investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of TechnipFMC during the 2nd quarter worth about $3,081,514,000. Amundi lifted its position in TechnipFMC by 72.6% in the second quarter. Amundi now owns 4,358,115 shares of the oil and gas company’s stock valued at $288,943,000 after buying an additional 1,832,581 shares during the last quarter. Bank of America Corp DE acquired a new position in TechnipFMC in the second quarter valued at about $226,069,000. Bank of New York Mellon Corp boosted its stake in TechnipFMC by 7.3% during the first quarter. Bank of New York Mellon Corp now owns 2,878,798 shares of the oil and gas company’s stock worth $199,011,000 after buying an additional 194,799 shares during the period. Finally, Danske Bank A S purchased a new position in TechnipFMC during the second quarter worth about $163,822,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 30th. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. 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 objective on the stock. Barclays increased their price objective on shares of TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Finally, Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $78.18.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Eric Mullins purchased 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the transaction, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thierry Conti sold 6,000 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the sale, the insider directly owned 85,813 shares in the company, valued at $6,165,664.05. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Trading Up 0.1%

Shares of NYSE FTI opened at $63.57 on Monday. TechnipFMC plc has a twelve month low of $41.73 and a twelve month high of $80.70. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $71.17 and a 200-day simple moving average of $69.31. The stock has a market capitalization of $24.72 billion, a PE ratio of 19.99, a PEG ratio of 0.99 and a beta of 0.89.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.17. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The firm 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 business earned $0.75 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that TechnipFMC plc will post 3.28 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

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.

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