1,359,870 Shares in TechnipFMC plc $FTI Bought by Primecap Management Co. CA

Primecap Management Co. CA bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,359,870 shares of the oil and gas company’s stock, valued at approximately $90,159,000. Primecap Management Co. CA owned about 0.35% of TechnipFMC at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FTI. BlackRock Inc. acquired a new position in shares of TechnipFMC during the 2nd quarter valued at about $3,081,514,000. State Street Corp raised its stake in shares of TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares in the last quarter. Norges Bank acquired a new stake in TechnipFMC in the 4th quarter worth approximately $205,468,000. Invesco Ltd. boosted its position in TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the period. Finally, AQR Capital Management LLC boosted its position in TechnipFMC by 26.7% during the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after purchasing an additional 3,549,839 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Eric D. Mullins acquired 6,365 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at approximately $633,898.50. This trade 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 link. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

FTI has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Evercore reiterated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Barclays lifted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada upped their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Stock Up 0.7%

FTI opened at $75.71 on Thursday. The company has a market capitalization of $29.69 billion, a P/E ratio of 26.29, a P/E/G ratio of 1.54 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The firm’s fifty day moving average price is $71.62 and its two-hundred day moving average price is $69.70. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.55.

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 analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. On average, analysts anticipate that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis 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.