78,374 Shares in TechnipFMC plc $FTI Bought by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab purchased a new position in TechnipFMC plc (NYSE:FTI) in the second quarter, Holdings Channel.com reports. The firm purchased 78,374 shares of the oil and gas company’s stock, valued at approximately $5,196,000.

Several other large investors have also made changes to their positions in FTI. V Square Quantitative Management LLC bought a new position in shares of TechnipFMC in the first quarter worth about $26,000. Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC during the 3rd quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its stake in TechnipFMC by 45.3% during the 1st 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 period. Ascentis Independent Advisors purchased a new position in TechnipFMC in the 1st quarter worth approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in TechnipFMC in the 4th quarter worth approximately $41,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other TechnipFMC news, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction that occurred on 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 acquisition, the director owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Trading Down 1.8%

FTI stock opened at $78.39 on Wednesday. The firm has a fifty day moving average price of $70.72 and a 200 day moving average price of $68.84. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $80.42. The firm has a market cap of $30.74 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 1.62 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 quarterly 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. 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 the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. TechnipFMC’s revenue was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that TechnipFMC plc will post 3.08 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.05 per share. 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 is currently 6.94%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FTI. Barclays increased their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Evercore reiterated an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a report on Friday, May 1st. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

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.