Acadian Asset Management LLC Takes $4.06 Million Position in TechnipFMC plc (NYSE:FTI)

Acadian Asset Management LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 155,125 shares of the oil and gas company’s stock, valued at approximately $4,056,000.

A number of other hedge funds have also recently bought and sold shares of FTI. M&T Bank Corp bought a new position in shares of TechnipFMC during the 4th quarter worth about $279,000. Charles Schwab Investment Management Inc. increased its stake in TechnipFMC by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,907,049 shares of the oil and gas company’s stock valued at $58,548,000 after acquiring an additional 26,353 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in TechnipFMC by 46.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 26,216 shares of the oil and gas company’s stock valued at $528,000 after acquiring an additional 8,262 shares in the last quarter. Navellier & Associates Inc. lifted its position in shares of TechnipFMC by 2.9% in the 4th quarter. Navellier & Associates Inc. now owns 77,967 shares of the oil and gas company’s stock worth $1,570,000 after acquiring an additional 2,201 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in shares of TechnipFMC during the 4th quarter worth approximately $830,000. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In other news, CAO David Light sold 5,928 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total transaction of $153,001.68. Following the sale, the chief accounting officer now owns 11,534 shares in the company, valued at $297,692.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FTI shares. Susquehanna upped their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Citigroup increased their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.38.

TechnipFMC Stock Up 0.8 %

FTI opened at $23.91 on Friday. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 50.87 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. The firm’s 50-day simple moving average is $26.62 and its 200-day simple moving average is $25.67. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $29.85.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.12. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. Equities research analysts anticipate that TechnipFMC plc will post 1.34 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.84%. TechnipFMC’s dividend payout ratio is 42.55%.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.