National Pension Service Takes $40.51 Million Position in TechnipFMC plc $FTI

National Pension Service acquired a new position in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 611,026 shares of the oil and gas company’s stock, valued at approximately $40,511,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTI. WINTON GROUP Ltd bought a new stake in shares of TechnipFMC during the 2nd quarter worth about $325,000. Integrated Wealth Concepts LLC boosted its holdings in shares of TechnipFMC by 36.1% in the second quarter. Integrated Wealth Concepts LLC now owns 76,883 shares of the oil and gas company’s stock valued at $5,097,000 after acquiring an additional 20,406 shares in the last quarter. IFP Advisors Inc increased its stake in shares of TechnipFMC by 21.6% during the second quarter. IFP Advisors Inc now owns 13,071 shares of the oil and gas company’s stock valued at $867,000 after acquiring an additional 2,320 shares during the period. Baird Financial Group Inc. increased its stake in shares of TechnipFMC by 253.0% during the second quarter. Baird Financial Group Inc. now owns 172,911 shares of the oil and gas company’s stock valued at $11,464,000 after acquiring an additional 123,929 shares during the period. Finally, Arizona State Retirement System raised its holdings in TechnipFMC by 3.2% during the second quarter. Arizona State Retirement System now owns 114,674 shares of the oil and gas company’s stock worth $7,603,000 after purchasing an additional 3,544 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FTI. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Susquehanna dropped their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings upgraded TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Finally, Citigroup raised their target price on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Price Performance

NYSE FTI opened at $76.37 on Friday. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.70. The business’s fifty day moving average is $74.55 and its two-hundred day moving average is $71.04. The stock has a market capitalization of $29.95 billion, a P/E ratio of 26.52, a P/E/G ratio of 1.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. On average, research analysts forecast that TechnipFMC plc will post 3.17 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th were given a $0.05 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 6.94%.

Insiders Place Their Bets

In related news, Director Eric Mullins purchased 6,365 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.

The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.