AGF Management Ltd. Has $11.06 Million Stake in TechnipFMC plc (NYSE:FTI)

AGF Management Ltd. grew its stake in TechnipFMC plc (NYSE:FTI) by 8.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 349,125 shares of the oil and gas company’s stock after buying an additional 27,265 shares during the period. AGF Management Ltd.’s holdings in TechnipFMC were worth $11,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of FTI. Envestnet Asset Management Inc. lifted its holdings in shares of TechnipFMC by 123.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 714,533 shares of the oil and gas company’s stock worth $20,679,000 after acquiring an additional 394,790 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of TechnipFMC by 29.8% during the 4th quarter. Sterling Capital Management LLC now owns 76,769 shares of the oil and gas company’s stock worth $2,222,000 after acquiring an additional 17,639 shares during the period. Townsquare Capital LLC lifted its holdings in shares of TechnipFMC by 1.5% during the 4th quarter. Townsquare Capital LLC now owns 219,014 shares of the oil and gas company’s stock worth $6,338,000 after acquiring an additional 3,197 shares during the period. Mariner LLC lifted its holdings in shares of TechnipFMC by 12.6% during the 4th quarter. Mariner LLC now owns 25,219 shares of the oil and gas company’s stock worth $730,000 after acquiring an additional 2,819 shares during the period. Finally, XTX Topco Ltd lifted its holdings in shares of TechnipFMC by 27.8% during the 4th quarter. XTX Topco Ltd now owns 43,814 shares of the oil and gas company’s stock worth $1,268,000 after acquiring an additional 9,543 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Up 0.1%

FTI opened at $34.98 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $14.38 billion, a PE ratio of 16.50, a PEG ratio of 1.15 and a beta of 1.04. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $38.05. The firm has a 50-day moving average price of $34.55 and a two-hundred day moving average price of $30.83.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. As a group, equities analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 9.43%.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of analyst reports. Susquehanna raised their price objective on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, July 25th. BTIG Research downgraded shares of TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Evercore ISI raised their price objective on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price objective on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Citigroup reaffirmed a “buy” rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.92.

Insiders Place Their Bets

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the sale, the director owned 62,978 shares in the company, valued at approximately $2,337,743.36. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.