Retirement Systems of Alabama Reduces Holdings in TechnipFMC plc $FTI

Retirement Systems of Alabama lowered its holdings in shares of TechnipFMC plc (NYSE:FTI) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485,489 shares of the oil and gas company’s stock after selling 11,455 shares during the period. Retirement Systems of Alabama owned about 0.12% of TechnipFMC worth $21,633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares in the last quarter. Harbor Investment Advisory LLC purchased a new stake in TechnipFMC in the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. acquired a new stake in TechnipFMC during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. grew its holdings in TechnipFMC by 45.3% during the 1st 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 last quarter. Finally, Huntington National Bank increased its position in TechnipFMC by 317.8% during the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock worth $47,000 after buying an additional 909 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.9%

Shares of FTI opened at $69.75 on Thursday. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $72.59. The company has a market capitalization of $28.01 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.70. The stock has a fifty day moving average of $62.83 and a two-hundred day moving average of $50.07. 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 (NYSE:FTI) last posted its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.19. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. As a group, analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th were 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 of this dividend was Tuesday, March 17th. TechnipFMC’s dividend payout ratio (DPR) is presently 8.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FTI shares. The Goldman Sachs Group boosted their price target on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Susquehanna lifted their price objective on TechnipFMC from $71.00 to $82.00 and gave the stock a “positive” rating in a research report on Wednesday, March 25th. Piper Sandler boosted their target price on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and upped their target price for the company from $49.00 to $62.00 in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $59.20.

Insider Buying and Selling

In related news, insider Jonathan Landes sold 116,194 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.20, for a total value of $7,227,266.80. Following the sale, the insider directly owned 71,356 shares of the company’s stock, valued at approximately $4,438,343.20. This trade represents a 61.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alf Melin sold 43,554 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the completion of the sale, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,216,442 shares of company stock worth $75,762,414 over the last ninety days. Insiders own 1.80% of the company’s stock.

TechnipFMC 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.