Lifestyle Asset Management Inc. Invests $1.67 Million in TechnipFMC plc $FTI

Lifestyle Asset Management Inc. bought a new position in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 37,557 shares of the oil and gas company’s stock, valued at approximately $1,674,000.

Several other institutional investors and hedge funds have also made changes to their positions in FTI. State Street Corp raised its holdings in shares of TechnipFMC by 62.2% in 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 acquiring an additional 4,938,498 shares in the last quarter. Norges Bank purchased a new stake in shares of TechnipFMC during the fourth quarter worth about $205,468,000. AQR Capital Management LLC boosted its position in TechnipFMC by 34.0% in 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 last quarter. Alliancebernstein L.P. boosted its position 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 valued at $189,460,000 after buying an additional 3,111,399 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in TechnipFMC in the third quarter valued at approximately $52,848,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Up 1.7%

TechnipFMC stock opened at $69.11 on Friday. 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 firm has a market cap of $27.55 billion, a PE ratio of 26.38, a P/E/G ratio of 1.46 and a beta of 0.69. The stock’s 50 day simple moving average is $71.74 and its two-hundred day simple moving average is $60.19. TechnipFMC plc has a 12 month low of $31.64 and a 12 month high of $77.78.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. Analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were 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 of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is presently 7.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FTI shares. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Wednesday. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research report on Sunday. UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday. Barclays upped their price objective on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Piper Sandler upped their price objective on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $69.71.

Insider Buying and Selling at TechnipFMC

In other news, CFO Alf Melin sold 83,721 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the completion of the transaction, the chief financial officer directly owned 282,537 shares of the company’s stock, valued at $17,469,262.71. This represents a 22.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Luana Duffe sold 47,951 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $2,993,580.93. Following the transaction, the executive vice president directly owned 78,871 shares of the company’s stock, valued at approximately $4,923,916.53. The trade was a 37.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,210,092 shares of company stock worth $75,347,124. 1.40% of the stock is currently owned by corporate insiders.

About TechnipFMC

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.