Meiji Yasuda Asset Management Co Ltd. Acquires Shares of 9,551 TechnipFMC plc $FTI

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of TechnipFMC plc (NYSE:FTI) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,551 shares of the oil and gas company’s stock, valued at approximately $377,000.

Several other large investors have also made changes to their positions in the company. Natixis Advisors LLC lifted its stake in shares of TechnipFMC by 1.6% during the third quarter. Natixis Advisors LLC now owns 90,826 shares of the oil and gas company’s stock valued at $3,583,000 after acquiring an additional 1,398 shares during the period. First Trust Advisors LP increased its position in TechnipFMC by 14.1% in the third quarter. First Trust Advisors LP now owns 339,148 shares of the oil and gas company’s stock worth $13,379,000 after purchasing an additional 41,826 shares during the period. Aptus Capital Advisors LLC raised its holdings in TechnipFMC by 1,406.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 242,899 shares of the oil and gas company’s stock worth $9,582,000 after purchasing an additional 226,779 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in TechnipFMC by 629.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 152,068 shares of the oil and gas company’s stock valued at $5,999,000 after purchasing an additional 131,221 shares during the period. Finally, Mengis Capital Management Inc. lifted its position in TechnipFMC by 15.4% during the 3rd quarter. Mengis Capital Management Inc. now owns 18,000 shares of the oil and gas company’s stock valued at $710,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $64.92 on Wednesday. The firm’s 50 day simple moving average is $57.32 and its 200 day simple moving average is $46.91. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $68.29. The company has a market capitalization of $25.97 billion, a price-to-earnings ratio of 28.10, a P/E/G ratio of 1.17 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is 8.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FTI shares. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and boosted their price target for the stock from $49.00 to $62.00 in a research note on Friday, February 20th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Piper Sandler upped their target price on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. The Goldman Sachs Group increased their price target on TechnipFMC from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.47.

Insider Activity

In related news, Director Carvalho Filho Eleazar De sold 6,350 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total value of $415,290.00. Following the completion of the sale, the director owned 97,860 shares in the company, valued at $6,400,044. This represents a 6.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

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.