Insider Selling: TechnipFMC (NYSE:FTI) EVP Sells $2,993,580.93 in Stock

TechnipFMC plc (NYSE:FTI) EVP Luana Duffe sold 47,951 shares of TechnipFMC stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 78,871 shares in the company, valued at $4,923,916.53. This trade represents a 37.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

TechnipFMC Stock Up 0.8%

NYSE FTI opened at $63.01 on Friday. The business has a fifty day moving average price of $58.39 and a two-hundred day moving average price of $47.33. The stock has a market capitalization of $25.21 billion, a PE ratio of 27.28, a PEG ratio of 1.15 and a beta of 0.70. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $68.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the company posted $0.54 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts expect that TechnipFMC plc will post 1.63 earnings per share 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 issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is 8.66%.

Analysts Set New Price Targets

A number of research firms recently issued reports on FTI. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Susquehanna increased their price target on TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a research note on Friday, February 20th. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and increased their target price for the company from $49.00 to $62.00 in a research report on Friday, February 20th. Finally, The Goldman Sachs Group upped their price objective on TechnipFMC from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued 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 target price of $58.47.

Institutional Trading of TechnipFMC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. World Investment Advisors bought a new position in TechnipFMC during the 4th quarter worth $207,000. DUTCH ASSET Corp bought a new stake in shares of TechnipFMC in the 4th quarter valued at about $657,000. Corient Private Wealth LLC increased its stake in shares of TechnipFMC by 95.7% in the fourth quarter. Corient Private Wealth LLC now owns 14,326 shares of the oil and gas company’s stock valued at $641,000 after buying an additional 7,004 shares during the period. Astoria Portfolio Advisors LLC. acquired a new stake in shares of TechnipFMC in the fourth quarter valued at about $197,000. Finally, Dorsey Wright & Associates bought a new position in shares of TechnipFMC during the fourth quarter worth about $5,467,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.