Varma Mutual Pension Insurance Co Purchases Shares of 186,300 TechnipFMC plc $FTI

Varma Mutual Pension Insurance Co purchased a new position in TechnipFMC plc (NYSE:FTI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 186,300 shares of the oil and gas company’s stock, valued at approximately $12,352,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of TechnipFMC in the 2nd quarter valued at $3,081,514,000. AQR Capital Management LLC lifted its position in TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares during the period. State Street Corp lifted its position in TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after acquiring an additional 4,938,498 shares during the period. Invesco Ltd. grew its stake in TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of TechnipFMC by 2.0% in the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after purchasing an additional 192,549 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Up 0.2%

Shares of FTI opened at $77.62 on Monday. The company has a market capitalization of $30.44 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.58 and a beta of 0.72. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.55. The stock’s 50-day moving average price is $71.14 and its 200-day moving average price is $69.30. 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 released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. On average, sell-side analysts predict that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Announces Dividend

The company 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 dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio is 6.94%.

Insider Buying and Selling

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

Analyst Ratings Changes

FTI has been the subject of several research analyst reports. Barclays raised 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. Susquehanna cut their price target 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. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Evercore reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Profile

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.