Ninety One UK Ltd Purchases New Position in TechnipFMC plc $FTI

Ninety One UK Ltd purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 7,660 shares of the oil and gas company’s stock, valued at approximately $520,000.

A number of other institutional investors have also added to or reduced their stakes in FTI. Curated Wealth Partners LLC acquired a new position in shares of TechnipFMC during the third quarter worth $1,372,000. HBW Advisory Services LLC lifted its stake in shares of TechnipFMC by 70.5% in the 3rd quarter. HBW Advisory Services LLC now owns 5,150 shares of the oil and gas company’s stock valued at $350,000 after acquiring an additional 2,130 shares during the last quarter. Strategy Asset Managers LLC lifted its stake in shares of TechnipFMC by 35.2% in the 3rd quarter. Strategy Asset Managers LLC now owns 6,827 shares of the oil and gas company’s stock valued at $464,000 after acquiring an additional 1,777 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of TechnipFMC during the 3rd quarter valued at $827,000. Finally, GK Wealth Management LLC acquired a new stake in shares of TechnipFMC during the 3rd quarter valued at $172,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 2nd. Citigroup upped their target price on TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Susquehanna cut their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $74.83.

TechnipFMC Trading Down 1.8%

FTI opened at $68.22 on Friday. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.70. The company has a fifty day moving average of $73.88 and a 200-day moving average of $71.84. The stock has a market cap of $26.75 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.11 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. TechnipFMC’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, sell-side analysts predict that TechnipFMC plc will post 3.20 EPS for the current year.

TechnipFMC Announces Dividend

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

Insider Activity

In other TechnipFMC news, Director Eric Mullins acquired 6,365 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thierry Conti sold 6,000 shares of the business’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 transaction, the insider directly owned 85,813 shares in the company, valued at $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.40% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.