Man Group plc Takes $12.63 Million Position in TechnipFMC plc $FTI

Man Group plc purchased a new position in TechnipFMC plc (NYSE:FTI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 190,439 shares of the oil and gas company’s stock, valued at approximately $12,626,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new position in TechnipFMC during the first quarter valued at $26,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC in the third quarter worth $32,000. Geneos Wealth Management Inc. grew its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Ascentis Independent Advisors bought a new position in shares of TechnipFMC during the first quarter valued at $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of TechnipFMC in the 2nd quarter worth about $37,000. Institutional investors own 96.58% of the company’s stock.

Insider Transactions at TechnipFMC

In other news, Director Eric D. Mullins bought 6,365 shares of the company’s stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

TechnipFMC Stock Up 1.1%

Shares of TechnipFMC stock opened at $76.54 on Friday. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.55. 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 company’s 50 day moving average is $71.85 and its 200 day moving average is $69.82. The company has a market cap of $30.02 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last posted its earnings results 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 business 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 was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Research analysts anticipate that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Announces Dividend

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 issued a $0.05 dividend. 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 dividend payout ratio is currently 6.94%.

Analyst Ratings Changes

Several brokerages recently commented on FTI. Susquehanna cut their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Royal Bank Of Canada increased their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. One 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.64.

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.