1,847,158 TechnipFMC plc $FTI Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of TechnipFMC plc (NYSE:FTI) by 195.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,791,873 shares of the oil and gas company’s stock after buying an additional 1,847,158 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in TechnipFMC were worth $189,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in TechnipFMC in the 1st quarter worth $26,000. Coppell Advisory Solutions LLC bought a new position in shares of TechnipFMC during the second quarter valued at about $35,000. Ascentis Independent Advisors bought a new position in shares of TechnipFMC during the first quarter valued at about $37,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of TechnipFMC during the second quarter worth about $37,000. Finally, Latitude Advisors LLC purchased a new stake in shares of TechnipFMC during the third quarter worth about $41,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Activity

In other news, Director Eric D. Mullins purchased 6,365 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thierry Conti sold 6,000 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the sale, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. The trade was a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $68.70 on Monday. TechnipFMC plc has a 12 month low of $41.06 and a 12 month high of $80.70. The stock has a market cap of $26.71 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average price is $72.32 and its 200-day moving average price is $68.99.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data 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 business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that TechnipFMC plc will post 3.23 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Tuesday, November 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, November 17th. TechnipFMC’s dividend payout ratio is 6.29%.

Trending Headlines about TechnipFMC

Here are the key news stories impacting TechnipFMC this week:

• Positive Sentiment: Material earnings and revenue beats: TechnipFMC reported adjusted earnings of $1.05 per share, well above the $0.88 consensus estimate and up from $0.75 a year earlier. Revenue reached $2.90 billion, exceeding the $2.79 billion forecast and increasing 9.4% year over year. TechnipFMC third-quarter earnings results
• Positive Sentiment: Strong operating performance: The quarter featured an 11.28% net margin and 36.54% return on equity. Management commentary and the earnings presentation highlighted continued momentum in the business and expectations for a sustained, long deepwater cycle—an important demand driver for TechnipFMC’s subsea services and equipment. TechnipFMC deepwater cycle outlook
• Positive Sentiment: Improved growth narrative: The earnings call and presentation suggest that offshore energy investment is supporting TechnipFMC’s order and revenue outlook. Investors appear encouraged that quarterly growth is being supported by durable project activity rather than only short-term cost controls. TechnipFMC Q3 earnings call transcript
• Neutral Sentiment: Valuation remains a consideration: Articles describe FTI as potentially undervalued under a growth-at-a-reasonable-price strategy. However, the stock trades at roughly 23.9 times earnings after a substantial one-year advance, so further gains may depend on continued earnings growth and execution. TechnipFMC valuation analysis

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Susquehanna reduced their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Barclays reduced their target price on TechnipFMC from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. Finally, UBS Group assumed coverage on TechnipFMC in a report on Monday, October 12th. They set 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 given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and an average price target of $74.83.

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.