Insider Selling: TechnipFMC (NYSE:FTI) CFO Sells $2,749,564.02 in Stock

TechnipFMC plc (NYSE:FTI) CFO Alf Melin sold 43,554 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total value of $2,749,564.02. Following the sale, the chief financial officer directly owned 238,983 shares of the company’s stock, valued at approximately $15,086,996.79. The trade was a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Alf Melin also recently made the following trade(s):

• On Monday, March 9th, Alf Melin sold 83,721 shares of TechnipFMC stock. The shares were sold at an average price of $61.83, for a total transaction of $5,176,469.43.

TechnipFMC Stock Up 0.8%

TechnipFMC stock opened at $63.01 on Friday. The company has a 50 day moving average of $58.39 and a 200-day moving average of $47.33. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $68.29. The stock has a market capitalization of $25.21 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.15 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The business 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 firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. On average, equities research analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be paid a $0.05 dividend. 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 currently 8.66%.

Hedge Funds Weigh In On TechnipFMC

Several hedge funds have recently modified their holdings of FTI. World Investment Advisors bought a new stake in TechnipFMC during the fourth quarter worth about $207,000. DUTCH ASSET Corp bought a new position in TechnipFMC in the fourth quarter valued at approximately $657,000. Corient Private Wealth LLC increased its position in shares of TechnipFMC by 95.7% during the 4th quarter. Corient Private Wealth LLC now owns 14,326 shares of the oil and gas company’s stock worth $641,000 after purchasing an additional 7,004 shares during the last quarter. Astoria Portfolio Advisors LLC. acquired a new position in shares of TechnipFMC during the 4th quarter worth approximately $197,000. Finally, Dorsey Wright & Associates bought a new stake in shares of TechnipFMC during the 4th quarter worth approximately $5,467,000. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. The Goldman Sachs Group lifted their target price on TechnipFMC from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Susquehanna boosted their target price on TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a research note on Friday, February 20th. TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Finally, Piper Sandler raised their price target on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $58.47.

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.