Beese Fulmer Investment Management Inc. Acquires New Holdings in TechnipFMC plc $FTI

Beese Fulmer Investment Management Inc. acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,659 shares of the oil and gas company’s stock, valued at approximately $386,000.

Several other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in TechnipFMC by 34.0% during the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock valued at $525,339,000 after buying an additional 3,378,159 shares during the period. State Street Corp increased its holdings in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after buying an additional 4,938,498 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in TechnipFMC by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock valued at $409,262,000 after buying an additional 232,491 shares during the period. Boston Partners increased its holdings in TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after buying an additional 192,549 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in TechnipFMC by 184.0% in the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock worth $189,460,000 after purchasing an additional 3,111,399 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FTI. BMO Capital Markets lifted their price target on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Citigroup lifted their price target on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. UBS Group set a $70.00 price target on shares of TechnipFMC in a report on Friday, February 20th. Finally, HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and lifted their price target for the stock from $49.00 to $62.00 in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director directly owned 59,887 shares in the company, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the sale, the insider owned 71,356 shares of the company’s stock, valued at $4,438,343.20. The trade was a 61.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,216,442 shares of company stock valued at $75,762,414. Company insiders own 1.40% of the company’s stock.

TechnipFMC Trading Up 3.2%

NYSE:FTI opened at $73.55 on Tuesday. TechnipFMC plc has a 12 month low of $28.87 and a 12 month high of $77.78. The firm has a fifty day simple moving average of $70.46 and a 200-day simple moving average of $57.68. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $29.32 billion, a P/E ratio of 28.07, a PEG ratio of 1.44 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that TechnipFMC plc will post 2.95 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, May 19th. TechnipFMC’s payout ratio is presently 7.63%.

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.