NorthCrest Asset Manangement LLC Increases Stock Holdings in TechnipFMC plc $FTI

NorthCrest Asset Manangement LLC increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 43.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 33,284 shares of the oil and gas company’s stock after purchasing an additional 10,156 shares during the period. NorthCrest Asset Manangement LLC’s holdings in TechnipFMC were worth $1,607,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTI. Blue Trust Inc. grew its position in TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 657 shares in the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. boosted its stake in shares of TechnipFMC by 45.3% in 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 purchasing an additional 340 shares during the period. Finally, Huntington National Bank boosted its stake in shares of TechnipFMC by 317.8% in the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 909 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of recent analyst reports. Susquehanna raised their price target on shares of TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a report on Friday, February 20th. BMO Capital Markets upped 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. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. The Goldman Sachs Group lifted 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. Finally, Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average price target of $58.47.

TechnipFMC Stock Up 4.3%

Shares of NYSE:FTI opened at $68.10 on Tuesday. The firm has a market cap of $27.24 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.70. The company has a fifty day simple moving average of $60.36 and a 200 day simple moving average of $48.66. 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 plc has a 12-month low of $22.11 and a 12-month high of $68.74.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 EPS 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 the consensus estimate of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. On average, equities research analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders 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 dividend yield of 0.3%. The ex-dividend date is Tuesday, March 17th. TechnipFMC’s dividend payout ratio is 8.66%.

Insider Buying and Selling at TechnipFMC

In other news, EVP Luana Duffe sold 47,951 shares of the stock in a transaction dated 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 transaction, the executive vice president 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.10, for a total value of $10,698,339.60. Following the completion of the transaction, the executive vice president owned 119,667 shares of the company’s stock, valued at $7,431,320.70. This trade represents a 59.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,210,092 shares of company stock valued at $75,322,232. Corporate insiders own 1.80% of the company’s stock.

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.