Mitsubishi UFJ Asset Management Co. Ltd. Has $1.03 Million Stock Holdings in TechnipFMC plc (NYSE:FTI)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in TechnipFMC plc (NYSE:FTI) by 4.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 32,461 shares of the oil and gas company’s stock after purchasing an additional 1,437 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in TechnipFMC were worth $1,029,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Diversify Advisory Services LLC grew its holdings in shares of TechnipFMC by 5.1% in the 1st quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company’s stock worth $238,000 after purchasing an additional 362 shares during the last quarter. Acuitas Investments LLC grew its holdings in shares of TechnipFMC by 13.4% in the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 400 shares during the last quarter. KBC Group NV grew its holdings in shares of TechnipFMC by 2.4% in the 1st quarter. KBC Group NV now owns 18,129 shares of the oil and gas company’s stock worth $575,000 after purchasing an additional 429 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of TechnipFMC by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock worth $91,000 after purchasing an additional 614 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC grew its holdings in shares of TechnipFMC by 7.7% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 9,238 shares of the oil and gas company’s stock worth $293,000 after purchasing an additional 657 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Sanford C. Bernstein lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a report on Thursday, May 22nd. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. BTIG Research lowered shares of TechnipFMC from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Citigroup reiterated a “buy” rating and issued a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Finally, Susquehanna increased their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.92.

Insider Buying and Selling

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the sale, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

TechnipFMC Stock Performance

TechnipFMC stock opened at $35.04 on Thursday. The business has a 50 day moving average of $34.68 and a 200-day moving average of $30.89. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. The company has a market capitalization of $14.40 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.16 and a beta of 1.04.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 annualized dividend and a yield of 0.6%. TechnipFMC’s dividend payout ratio is presently 9.43%.

TechnipFMC Profile

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.