Legal & General Group Plc Buys Shares of 2,257,512 TechnipFMC plc $FTI

Legal & General Group Plc bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,257,512 shares of the oil and gas company’s stock, valued at approximately $149,673,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of TechnipFMC in the first quarter valued at about $26,000. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC during the third quarter worth about $32,000. Geneos Wealth Management Inc. increased its holdings in TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares in the last quarter. Ascentis Independent Advisors purchased a new position in TechnipFMC in the first quarter valued at about $37,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of TechnipFMC during the 2nd quarter valued at approximately $37,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FTI shares. Citigroup boosted their price target on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Royal Bank Of Canada lifted their price objective on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. UBS Group set a $80.00 target price on TechnipFMC in a report on Wednesday, June 3rd. Finally, Evercore reaffirmed an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. One 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’s stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

Insider Buying and Selling at TechnipFMC

In related news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

TechnipFMC Trading Up 1.1%

Shares of FTI opened at $76.54 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55. The stock has a market cap of $30.02 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. The firm has a 50 day simple moving average of $71.85 and a 200-day simple moving average of $69.82.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $2.76 billion for 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%.TechnipFMC’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Equities analysts forecast that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s payout ratio is 6.94%.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.