Wakefield Asset Management LLLP Grows Stock Position in TechnipFMC plc $FTI

Wakefield Asset Management LLLP increased its position in shares of TechnipFMC plc (NYSE:FTI) by 42.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,779 shares of the oil and gas company’s stock after purchasing an additional 35,041 shares during the quarter. TechnipFMC makes up approximately 1.3% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 15th largest position. Wakefield Asset Management LLLP’s holdings in TechnipFMC were worth $4,646,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Boston Partners boosted its position in TechnipFMC by 267.5% during the second quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock worth $333,041,000 after acquiring an additional 7,038,640 shares during the last quarter. Norges Bank purchased a new stake in shares of TechnipFMC in the second quarter valued at approximately $151,413,000. Pacer Advisors Inc. increased its holdings in shares of TechnipFMC by 91.5% in the third quarter. Pacer Advisors Inc. now owns 3,837,314 shares of the oil and gas company’s stock valued at $151,382,000 after purchasing an additional 1,833,601 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in TechnipFMC by 80.6% during the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after buying an additional 1,415,621 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in TechnipFMC by 61.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,399,955 shares of the oil and gas company’s stock valued at $117,094,000 after buying an additional 1,296,358 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 2.3%

Shares of FTI opened at $64.92 on Wednesday. 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 stock has a market capitalization of $25.97 billion, a PE ratio of 28.10, a P/E/G ratio of 1.17 and a beta of 0.70. The company’s 50-day simple moving average is $57.32 and its 200-day simple moving average is $46.91. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $68.29.

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

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 8.66%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FTI shares. The Goldman Sachs Group raised their target price on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. UBS Group set a $70.00 price target on shares of TechnipFMC in a research note on Friday, February 20th. Barclays reaffirmed an “overweight” rating and set a $69.00 price target on shares of TechnipFMC in a research report on Friday, February 20th. Finally, BMO Capital Markets increased their price objective on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $58.47.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 6,350 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the transaction, the director directly owned 97,860 shares of the company’s stock, valued at $6,400,044. The trade was a 6.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

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.