Retirement Systems of Alabama Lowers Stock Position in TechnipFMC plc $FTI

Retirement Systems of Alabama trimmed its position in shares of TechnipFMC plc (NYSE:FTI) by 2.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 485,489 shares of the oil and gas company’s stock after selling 11,455 shares during the period. Retirement Systems of Alabama’s holdings in TechnipFMC were worth $21,633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTI. Geneos Wealth Management Inc. grew its position 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 acquiring an additional 340 shares during the period. True Wealth Design LLC raised its holdings in shares of TechnipFMC by 8.6% in the 4th quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company’s stock worth $200,000 after purchasing an additional 357 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of TechnipFMC by 1.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company’s stock worth $948,000 after purchasing an additional 365 shares during the period. Gries Financial LLC lifted its stake in shares of TechnipFMC by 6.2% in the 3rd quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 391 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of TechnipFMC by 2.9% during the 3rd quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company’s stock worth $572,000 after purchasing an additional 408 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $69.75 on Thursday. The business’s 50-day simple moving average is $62.83 and its 200 day simple moving average is $50.07. The company has a market cap of $28.01 billion, a P/E ratio of 30.19, a PEG ratio of 1.27 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. TechnipFMC plc has a one year low of $22.11 and a one year high of $72.59.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the business earned $0.54 EPS. TechnipFMC’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th were paid a $0.05 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is 8.66%.

Insider Buying and Selling at TechnipFMC

In related news, EVP Luana Duffe sold 47,951 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the sale, the executive vice president directly owned 78,871 shares of the company’s stock, valued at approximately $4,923,916.53. This trade represents a 37.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 directly owned 71,356 shares in the company, valued at $4,438,343.20. This trade represents a 61.95% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,216,442 shares of company stock worth $75,762,414. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FTI shares. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. UBS Group set a $70.00 price target on shares of TechnipFMC in a research report on Friday, February 20th. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. HSBC lowered shares of 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 research report on Friday, February 20th. Finally, The Goldman Sachs Group lifted their target price on shares of TechnipFMC from $55.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. One 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.20.

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.