TechnipFMC plc $FTI Shares Acquired by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP raised its position in shares of TechnipFMC plc (NYSE:FTI) by 31.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,952,427 shares of the oil and gas company’s stock after acquiring an additional 472,317 shares during the quarter. Westfield Capital Management Co. LP’s holdings in TechnipFMC were worth $87,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Independent Advisor Alliance raised its holdings in shares of TechnipFMC by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after acquiring an additional 184 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in shares of TechnipFMC by 3.0% during the fourth quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock valued at $346,000 after acquiring an additional 225 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of TechnipFMC by 5.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company’s stock valued at $235,000 after acquiring an additional 262 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of TechnipFMC by 45.3% during 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 acquiring an additional 340 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of TechnipFMC by 8.6% during the fourth quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company’s stock valued at $200,000 after acquiring an additional 357 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

NYSE:FTI opened at $69.11 on Friday. TechnipFMC plc has a one year low of $31.64 and a one year high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The stock has a market cap of $27.55 billion, a PE ratio of 26.38, a P/E/G ratio of 1.46 and a beta of 0.69. The stock has a 50 day moving average price of $71.74 and a 200 day moving average price of $60.19.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts expect that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 7.63%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FTI. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a report on Wednesday. Susquehanna increased their target price on TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a report on Friday, May 1st. Barclays increased their price target on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. BMO Capital Markets increased their price target on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Finally, UBS Group set a $80.00 price target on TechnipFMC in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.71.

Insider Activity at TechnipFMC

In other TechnipFMC news, CFO Alf Melin sold 43,554 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was 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 $15,086,996.79. This trade represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Light sold 6,622 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $413,411.46. Following the sale, the chief accounting officer directly owned 5,005 shares of the company’s stock, valued at approximately $312,462.15. This trade represents a 56.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,210,092 shares of company stock valued at $75,347,124 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

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.