TechnipFMC plc $FTI Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC cut its stake in TechnipFMC plc (NYSE:FTI) by 29.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,653,866 shares of the oil and gas company’s stock after selling 704,603 shares during the period. Stephens Investment Management Group LLC’s holdings in TechnipFMC were worth $73,696,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. AE Wealth Management LLC raised its position in TechnipFMC by 38.0% during the 3rd quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after buying an additional 50,593 shares during the last quarter. Lingohr Asset Management GmbH raised its position in TechnipFMC by 461.7% during the 3rd quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock worth $8,375,000 after buying an additional 174,500 shares during the last quarter. Bank of New York Mellon Corp raised its position in TechnipFMC by 80.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after buying an additional 1,415,621 shares during the last quarter. New York State Common Retirement Fund raised its position in TechnipFMC by 8.4% during the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock worth $12,053,000 after buying an additional 23,600 shares during the last quarter. Finally, Savvy Advisors Inc. purchased a new position in TechnipFMC during the 3rd quarter worth approximately $708,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TechnipFMC

In other news, EVP Luana Duffe sold 47,951 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 78,871 shares of the company’s stock, valued at $4,923,916.53. This trade represents a 37.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total transaction of $440,182.00. Following the sale, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. The trade was a 9.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,216,442 shares of company stock worth $75,762,414. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FTI has been the subject of a number of recent research reports. Royal Bank Of Canada raised their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Piper Sandler raised their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Finally, The Goldman Sachs Group raised their price target on shares of TechnipFMC from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $71.21 on Friday. The stock has a market capitalization of $28.39 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.45 and a beta of 0.74. TechnipFMC plc has a 12 month low of $28.87 and a 12 month high of $77.78. The firm’s 50 day simple moving average is $70.27 and its 200-day simple moving average is $57.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data 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. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. Analysts expect that TechnipFMC plc will post 2.95 EPS for the current year.

TechnipFMC Dividend Announcement

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

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.