Danske Bank A S Purchases New Holdings in TechnipFMC plc $FTI

Danske Bank A S purchased a new position in shares of TechnipFMC plc (NYSE:FTIFree Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,470,922 shares of the oil and gas company’s stock, valued at approximately $163,822,000.

A number of other hedge funds have also recently added to or reduced their stakes in FTI. ANB Bank raised its holdings in TechnipFMC by 3.4% in the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock valued at $339,000 after acquiring an additional 161 shares in the last quarter. PFG Investments LLC grew its holdings in shares of TechnipFMC by 2.4% during the 1st quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock worth $495,000 after purchasing an additional 165 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of TechnipFMC by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock worth $2,730,000 after purchasing an additional 184 shares in the last quarter. Evolve Private Wealth LLC increased its position in shares of TechnipFMC by 0.7% in the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after purchasing an additional 227 shares during the period. Finally, Caerus Investment Advisors LLC raised its stake in TechnipFMC by 1.1% in the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company’s stock valued at $1,661,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In related news, Director Eric D. Mullins acquired 6,365 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares of the company’s stock, 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 SEC, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FTI shares. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Susquehanna decreased their target price 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. Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Barclays upped their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average price target of $69.64.

Get Our Latest Analysis on TechnipFMC

TechnipFMC Stock Down 1.8%

Shares of NYSE FTI opened at $78.39 on Wednesday. The company has a 50 day simple moving average of $70.72 and a 200 day simple moving average of $68.84. 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 $34.27 and a 1 year high of $80.42. The firm has a market cap of $30.74 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72.

TechnipFMC (NYSE:FTIGet Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, research analysts forecast that TechnipFMC plc will post 3.08 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is currently 6.94%.

About TechnipFMC

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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