Global Retirement Partners LLC Acquires 16,429 Shares of TechnipFMC plc $FTI

Global Retirement Partners LLC boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 313.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,669 shares of the oil and gas company’s stock after buying an additional 16,429 shares during the period. Global Retirement Partners LLC’s holdings in TechnipFMC were worth $966,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of TechnipFMC by 34.0% during the 3rd quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after acquiring an additional 3,378,159 shares in the last quarter. State Street Corp lifted its holdings in TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after purchasing an additional 4,938,498 shares during the last quarter. Boston Partners lifted its holdings in TechnipFMC by 2.0% in the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after purchasing an additional 192,549 shares during the last quarter. Alliancebernstein L.P. boosted its position in TechnipFMC by 184.0% during the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock worth $189,460,000 after purchasing an additional 3,111,399 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in TechnipFMC by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,763,630 shares of the oil and gas company’s stock valued at $187,942,000 after purchasing an additional 137,507 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FTI has been the subject of several recent analyst reports. Evercore reaffirmed an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a report on Friday, May 1st. Barclays boosted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. The Goldman Sachs Group upped their price target on shares of TechnipFMC from $66.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Susquehanna lifted their price objective on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research note on Friday, May 1st. Finally, Piper Sandler boosted their price objective on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.00.

TechnipFMC Trading Up 0.1%

Shares of FTI stock opened at $71.09 on Tuesday. The firm has a market capitalization of $28.35 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. TechnipFMC plc has a 1 year low of $28.89 and a 1 year high of $77.78. The firm’s fifty day simple moving average is $71.29 and its 200 day simple moving average is $58.75. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

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

TechnipFMC Dividend Announcement

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

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, EVP Luana Duffe sold 47,951 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $2,993,580.93. Following the completion of the sale, the executive vice president owned 78,871 shares in the company, valued at approximately $4,923,916.53. This trade represents a 37.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. The trade was a 9.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,216,442 shares of company stock valued at $75,762,414 over the last quarter. Company insiders own 1.40% 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.