Legal & General Group Plc Has $34.18 Million Position in TechnipFMC plc $FTI

Legal & General Group Plc reduced its holdings in shares of TechnipFMC plc (NYSE:FTI) by 9.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 767,024 shares of the oil and gas company’s stock after selling 80,059 shares during the period. Legal & General Group Plc’s holdings in TechnipFMC were worth $34,179,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Harbor Investment Advisory LLC acquired a new stake in shares of TechnipFMC during the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC during the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its position in shares of 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 acquiring an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of TechnipFMC during the 4th quarter valued at about $41,000. Finally, Torren Management LLC acquired a new stake in shares of TechnipFMC during the 4th quarter valued at about $45,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TechnipFMC

In other news, insider Jonathan Landes sold 116,194 shares of the company’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 transaction of $7,227,266.80. Following the transaction, the insider directly owned 71,356 shares in the company, valued at approximately $4,438,343.20. This represents a 61.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the transaction, the chief executive officer owned 2,411,852 shares in the company, valued at $150,113,668.48. The trade was a 23.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,210,092 shares of company stock valued at $75,347,124 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Piper Sandler boosted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Barclays boosted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and boosted their price target for the company from $49.00 to $62.00 in a research report on Friday, February 20th. Finally, UBS Group set a $70.00 price target on shares of TechnipFMC in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

TechnipFMC Price Performance

NYSE:FTI opened at $68.16 on Friday. The firm has a market cap of $27.17 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.47 and a beta of 0.74. TechnipFMC plc has a 12 month low of $30.64 and a 12 month high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $71.64 and its two-hundred day moving average price is $59.37.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the business earned $0.33 earnings per share. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

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.