New Mexico Educational Retirement Board Takes $3.30 Million Position in TechnipFMC plc $FTI

New Mexico Educational Retirement Board bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 83,700 shares of the oil and gas company’s stock, valued at approximately $3,302,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. lifted its position in 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. acquired a new stake in TechnipFMC during the third quarter worth about $32,000. Geneos Wealth Management Inc. increased its holdings in TechnipFMC by 45.3% in the 1st 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 raised its position in shares of TechnipFMC by 317.8% in the 3rd quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 909 shares in the last quarter. Finally, McIlrath & Eck LLC raised its position in shares of TechnipFMC by 476.3% in the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,024 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FTI. Citigroup increased their price target on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. BMO Capital Markets boosted their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Piper Sandler upped their target price on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Barclays reaffirmed an “overweight” rating and issued a $69.00 target price on shares of TechnipFMC in a report on Friday, February 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.47.

Insider Activity at TechnipFMC

In related news, CAO David Light sold 6,622 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.43, for a total transaction of $413,411.46. Following the sale, the chief accounting officer owned 5,005 shares in the company, valued at $312,462.15. The trade was a 56.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan Landes sold 116,194 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.20, for a total value of $7,227,266.80. Following the completion of the transaction, the insider directly owned 71,356 shares of the company’s stock, valued at approximately $4,438,343.20. The trade was a 61.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,210,092 shares of company stock worth $75,322,232 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

TechnipFMC Trading Up 1.7%

Shares of TechnipFMC stock opened at $66.22 on Friday. The firm’s 50 day moving average is $59.69 and its 200 day moving average is $48.12. The firm has a market capitalization of $26.49 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 1.20 and a beta of 0.70. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $68.29. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13.

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

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be issued 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 dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 8.66%.

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.