25,923 Shares in TechnipFMC plc $FTI Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new position in shares of TechnipFMC plc (NYSE:FTI) during the 3rd quarter, Holdings Channel reports. The firm acquired 25,923 shares of the oil and gas company’s stock, valued at approximately $1,785,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Coppell Advisory Solutions LLC acquired a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $35,000. Ascentis Independent Advisors acquired a new position in TechnipFMC during the 1st quarter worth $37,000. Keating Financial Advisory Services Inc. bought a new stake in shares of TechnipFMC in the 2nd quarter worth about $37,000. Latitude Advisors LLC bought a new stake in shares of TechnipFMC in the 3rd quarter worth about $41,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of TechnipFMC in the 2nd quarter valued at about $44,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eric D. Mullins bought 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the transaction, the insider directly owned 85,813 shares of the company’s stock, valued at $6,165,664.05. This trade 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. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Barclays boosted their price objective on TechnipFMC from $86.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 30th. Finally, UBS Group initiated coverage on TechnipFMC in a research report on Monday, October 12th. They issued a “buy” rating and a $89.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Buy” and an average target price of $78.18.

TechnipFMC Stock Up 3.2%

FTI stock opened at $63.57 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.09 and a quick ratio of 0.86. TechnipFMC plc has a 1-year low of $41.73 and a 1-year high of $80.70. The firm has a fifty day moving average price of $71.17 and a two-hundred day moving average price of $69.31. The firm has a market cap of $24.72 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 0.99 and a beta of 0.89.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Research analysts predict that TechnipFMC plc will post 3.28 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors 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 annualized dividend 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.