Mirae Asset Global Investments Co. Ltd. Invests $203,000 in TechnipFMC plc (NYSE:FTI)

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,084 shares of the oil and gas company’s stock, valued at approximately $203,000.

Several other institutional investors have also modified their holdings of FTI. Ballentine Partners LLC purchased a new stake in shares of TechnipFMC during the 3rd quarter worth approximately $203,000. Xponance Inc. lifted its position in shares of TechnipFMC by 128.1% during the 3rd quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock worth $705,000 after buying an additional 19,451 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of TechnipFMC by 14.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock worth $264,000 after buying an additional 1,674 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in TechnipFMC by 17.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock valued at $1,820,000 after purchasing an additional 13,265 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in TechnipFMC by 50.0% in the 3rd quarter. Mackenzie Financial Corp now owns 836,307 shares of the oil and gas company’s stock valued at $16,659,000 after purchasing an additional 278,637 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on FTI shares. Bank of America upped their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday. TD Cowen upped their price target on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. Barclays upped their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, Susquehanna upped their price objective on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.07.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, the director now directly owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.06% of the stock is owned by corporate insiders.

TechnipFMC Stock Performance

NYSE:FTI opened at $26.59 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. TechnipFMC plc has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The stock has a market cap of $11.62 billion, a PE ratio of 56.57 and a beta of 1.65. The firm’s fifty day simple moving average is $24.21 and its 200-day simple moving average is $21.56.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts expect that TechnipFMC plc will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. TechnipFMC’s payout ratio is 42.55%.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.