Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Shares in TechnipFMC plc $FTI

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of TechnipFMC plc (NYSE:FTI) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 513,622 shares of the oil and gas company’s stock, valued at approximately $34,053,000.

A number of other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of TechnipFMC during the first quarter valued at approximately $26,000. Ascentis Independent Advisors bought a new position in TechnipFMC in the 1st quarter valued at $37,000. First Pacific Financial purchased a new stake in TechnipFMC in the first quarter worth $52,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC during the third quarter valued at $32,000. Finally, Summit Securities Group LLC bought a new position in shares of TechnipFMC in the first quarter worth about $60,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 1.6%

TechnipFMC stock opened at $77.07 on Thursday. The firm has a market cap of $30.23 billion, a PE ratio of 26.76, a P/E/G ratio of 1.61 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $70.86 and its two-hundred day simple moving average is $68.99. TechnipFMC plc has a 12 month low of $34.27 and a 12 month high of $80.55.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share 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 business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that TechnipFMC plc will post 3.08 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Insider Activity at TechnipFMC

In related news, Director Eric D. Mullins purchased 6,365 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. This represents a 373.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FTI has been the topic of several research reports. UBS Group set a $80.00 price target on TechnipFMC in a research note on Wednesday, June 3rd. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Susquehanna dropped their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and an average 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.