Meiji Yasuda Asset Management Co Ltd. Buys Shares of 10,250 TechnipFMC plc $FTI

Meiji Yasuda Asset Management Co Ltd. bought a new position in TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,250 shares of the oil and gas company’s stock, valued at approximately $680,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Partners Wealth grew its stake in shares of TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. raised its position in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Sivia Capital Partners LLC raised its position in TechnipFMC by 76.1% during the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after acquiring an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in TechnipFMC by 132.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Ossiam lifted its stake in TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 546 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Down 0.8%

Shares of FTI stock opened at $75.26 on Wednesday. TechnipFMC plc has a 12 month low of $35.29 and a 12 month high of $80.55. The company has a market cap of $29.52 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $71.45 and its two-hundred day moving average is $69.56.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data 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. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. TechnipFMC’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. Equities analysts predict that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given 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 payout ratio is currently 6.94%.

Wall Street Analyst Weigh In

FTI has been the topic of several analyst reports. UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Royal Bank Of Canada upped their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Barclays increased their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Citigroup boosted their price target on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

Insiders Place Their Bets

In other news, Director Eric D. Mullins bought 6,365 shares of the business’s stock in a transaction on Friday, August 14th. The stock was purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

TechnipFMC Company 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.