GSA Capital Partners LLP Buys New Shares in TechnipFMC plc $FTI

GSA Capital Partners LLP bought a new stake in TechnipFMC plc (NYSE:FTI) in the fourth quarter, HoldingsChannel reports. The fund bought 26,640 shares of the oil and gas company’s stock, valued at approximately $1,187,000.

A number of other institutional investors have also recently bought and sold shares of FTI. HighTower Advisors LLC lifted its position in TechnipFMC by 54.7% during the fourth quarter. HighTower Advisors LLC now owns 46,832 shares of the oil and gas company’s stock valued at $2,087,000 after buying an additional 16,562 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in TechnipFMC by 9.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,729 shares of the oil and gas company’s stock valued at $567,000 after buying an additional 1,080 shares in the last quarter. Chase Investment Counsel Corp lifted its position in TechnipFMC by 95.1% during the fourth quarter. Chase Investment Counsel Corp now owns 177,903 shares of the oil and gas company’s stock valued at $7,927,000 after buying an additional 86,740 shares in the last quarter. North Dakota State Investment Board acquired a new position in TechnipFMC during the fourth quarter valued at approximately $639,000. Finally, Abacus Wealth Partners LLC acquired a new position in TechnipFMC during the fourth quarter valued at approximately $730,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FTI has been the topic of a number of recent research reports. Barclays lifted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore reaffirmed an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Piper Sandler lifted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group lifted their price target on shares of TechnipFMC from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

TechnipFMC Trading Down 2.2%

NYSE FTI opened at $72.23 on Thursday. The company’s fifty day simple moving average is $70.85 and its 200-day simple moving average is $58.13. TechnipFMC plc has a 52 week low of $28.87 and a 52 week high of $77.78. 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 stock has a market cap of $28.80 billion, a P/E ratio of 27.57, a PEG ratio of 1.60 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts predict that TechnipFMC plc will post 2.96 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Insider Buying and Selling at TechnipFMC

In other news, CEO Douglas J. Pferdehirt sold 733,424 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the transaction, the chief executive officer directly owned 2,411,852 shares of the company’s stock, valued at approximately $150,113,668.48. The trade was a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan Landes sold 116,194 shares of the business’s 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 transaction, the insider directly owned 71,356 shares in the company, valued at approximately $4,438,343.20. The trade was a 61.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is owned by company insiders.

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.