Wellington Management Group LLP Raises Holdings in TechnipFMC plc $FTI

Wellington Management Group LLP grew its holdings in TechnipFMC plc (NYSE:FTI) by 28.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 788,158 shares of the oil and gas company’s stock after buying an additional 174,339 shares during the quarter. Wellington Management Group LLP’s holdings in TechnipFMC were worth $52,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTI. V Square Quantitative Management LLC purchased a new position in TechnipFMC in the first quarter worth $26,000. Ascentis Independent Advisors acquired a new position in shares of TechnipFMC during the 1st quarter worth $37,000. Keating Financial Advisory Services Inc. acquired a new position in shares of TechnipFMC during the 2nd quarter worth $37,000. First Pacific Financial purchased a new position in shares of TechnipFMC in the 1st quarter valued at about $52,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays boosted their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, August 27th. Citigroup upped their price target on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.64.

Insider Activity at TechnipFMC

In related news, Director Eric Mullins acquired 6,365 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by insiders.

TechnipFMC Trading Up 0.3%

Shares of TechnipFMC stock opened at $79.91 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.70. The company has a market capitalization of $31.34 billion, a P/E ratio of 27.75, a P/E/G ratio of 1.59 and a beta of 0.74. The business has a 50 day moving average price of $73.10 and a 200 day moving average price of $70.43.

TechnipFMC (NYSE:FTI) last announced its 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. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.TechnipFMC’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. Sell-side analysts anticipate that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC’s dividend payout ratio is currently 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.