Varma Mutual Pension Insurance Co Makes New Investment in TechnipFMC plc $FTI

Varma Mutual Pension Insurance Co acquired a new stake in TechnipFMC plc (NYSE:FTI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 186,300 shares of the oil and gas company’s stock, valued at approximately $12,352,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in TechnipFMC in the 1st quarter worth $26,000. Ascentis Independent Advisors purchased a new position in TechnipFMC during the first quarter valued at $37,000. Keating Financial Advisory Services Inc. purchased a new position in TechnipFMC during the second quarter valued at $37,000. First Pacific Financial acquired a new stake in shares of TechnipFMC in the first quarter valued at about $52,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC in the third quarter valued at about $32,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Trading Up 0.2%

Shares of FTI stock opened at $77.62 on Monday. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.55. The company has a 50 day moving average price of $71.14 and a 200 day moving average price of $69.30. The stock has a market capitalization of $30.44 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 1.58 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.

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, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business earned $0.68 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Insider Activity

In related news, Director Eric D. Mullins bought 6,365 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FTI shares. Royal Bank Of Canada upped their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Susquehanna reduced their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. UBS Group set a $80.00 price target on TechnipFMC in a report on Wednesday, June 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Evercore reaffirmed an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC 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.