Man Group plc Makes New $12.63 Million Investment in TechnipFMC plc $FTI

Man Group plc purchased a new position in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 190,439 shares of the oil and gas company’s stock, valued at approximately $12,626,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FTI. V Square Quantitative Management LLC purchased a new position in TechnipFMC during the first quarter valued at $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the third quarter worth about $32,000. Geneos Wealth Management Inc. lifted its position in shares of 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 buying an additional 340 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in TechnipFMC in the 1st quarter worth approximately $37,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in TechnipFMC during the 2nd quarter worth approximately $37,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FTI has been the topic of a number of analyst reports. UBS Group set a $80.00 target price on shares of TechnipFMC in a research note on Wednesday, June 3rd. Barclays upped their price objective on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Evercore reissued an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Royal Bank Of Canada increased their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Finally, Susquehanna lowered their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. One 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

Insider Buying and Selling at TechnipFMC

In other news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Price Performance

FTI stock opened at $76.54 on Friday. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.55. The firm has a market capitalization of $30.02 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. The company has a fifty day simple moving average of $71.85 and a two-hundred day simple moving average of $69.82. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 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 firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts anticipate that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be paid 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, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

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.