The Manufacturers Life Insurance Company Makes New $13.23 Million Investment in TechnipFMC plc $FTI

The Manufacturers Life Insurance Company bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 199,591 shares of the oil and gas company’s stock, valued at approximately $13,233,000. The Manufacturers Life Insurance Company owned approximately 0.05% of TechnipFMC at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FTI. V Square Quantitative Management LLC bought a new stake in TechnipFMC during the first quarter worth about $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% during 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 purchasing an additional 340 shares during the last quarter. Ascentis Independent Advisors bought a new stake in shares of TechnipFMC in the 1st quarter worth approximately $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of TechnipFMC in the 2nd quarter worth approximately $37,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 0.7%

FTI stock opened at $75.81 on Friday. The company has a market cap of $29.73 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The business’s 50-day moving average is $72.07 and its two-hundred day moving average is $69.86. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.55.

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

TechnipFMC Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Evercore reiterated an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. Susquehanna reduced their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Royal Bank Of Canada lifted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.64.

Insider Activity

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by insiders.

About TechnipFMC

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.