Insider Selling: TechnipFMC (NYSE:FTI) Director Sells $440,182.00 in Stock

TechnipFMC plc (NYSE:FTI) Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the sale, the director owned 59,887 shares in the company, valued at $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

TechnipFMC Price Performance

NYSE FTI opened at $71.25 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The company has a market cap of $28.61 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.30 and a beta of 0.70. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $71.49. The firm’s 50-day simple moving average is $61.88 and its two-hundred day simple moving average is $49.41.

TechnipFMC (NYSE:FTI) last posted its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.19. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the company earned $0.54 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FTI. Focus Partners Wealth increased its holdings in shares of TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 5,161 shares during the period. Geneos Wealth Management Inc. boosted its stake in TechnipFMC by 45.3% during the first 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. Sivia Capital Partners LLC grew its position in TechnipFMC by 76.1% during the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after buying an additional 6,381 shares in the last quarter. SG Americas Securities LLC purchased a new position in TechnipFMC during the second quarter worth about $486,000. Finally, Creative Planning increased its stake in TechnipFMC by 50.5% in the 2nd quarter. Creative Planning now owns 36,492 shares of the oil and gas company’s stock worth $1,257,000 after acquiring an additional 12,240 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FTI shares. The Goldman Sachs Group increased their target price on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. UBS Group set a $70.00 price objective on TechnipFMC in a research note on Friday, February 20th. HSBC cut TechnipFMC from a “buy” rating to a “hold” rating and increased their price objective for the stock from $49.00 to $62.00 in a report on Friday, February 20th. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. Finally, Citigroup lifted their target price on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.20.

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.