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

Danske Bank A S purchased a new position in shares of TechnipFMC plc (NYSE:FTI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,339,616 shares of the oil and gas company’s stock, valued at approximately $52,848,000. Danske Bank A S owned 0.33% of TechnipFMC as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in shares of TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of TechnipFMC in the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. boosted 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 valued at $35,000 after buying an additional 340 shares during the period. Huntington National Bank grew its position in TechnipFMC by 317.8% during the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock worth $47,000 after buying an additional 909 shares in the last quarter. Finally, McIlrath & Eck LLC increased its stake in TechnipFMC by 476.3% during the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,024 shares during the period. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FTI shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. The Goldman Sachs Group increased their target price on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and increased their price objective for the stock from $49.00 to $62.00 in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.47.

Insider Activity

In other news, EVP Luana Duffe sold 47,951 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $2,993,580.93. Following the completion of the transaction, the executive vice president owned 78,871 shares of the company’s stock, valued at approximately $4,923,916.53. This represents a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the sale, the executive vice president directly owned 119,667 shares in the company, valued at $7,431,320.70. This trade represents a 59.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,210,092 shares of company stock valued at $75,322,232. Corporate insiders own 1.80% of the company’s stock.

TechnipFMC Trading Down 0.5%

Shares of FTI stock opened at $64.98 on Thursday. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $68.29. The stock’s fifty day moving average price is $59.35 and its two-hundred day moving average price is $47.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The company has a market cap of $26.00 billion, a PE ratio of 28.13, a P/E/G ratio of 1.20 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. TechnipFMC’s revenue was up 6.3% on a year-over-year basis. Equities analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s payout ratio is presently 8.66%.

TechnipFMC 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.