Marietta Investment Partners LLC Buys New Position in TechnipFMC plc $FTI

Marietta Investment Partners LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 61,479 shares of the oil and gas company’s stock, valued at approximately $2,740,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in TechnipFMC by 34.0% in the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after purchasing an additional 3,378,159 shares in the last quarter. State Street Corp raised its holdings in TechnipFMC by 62.2% in the third 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 in the last quarter. Boston Partners raised its holdings in TechnipFMC by 2.0% in the third 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 in the last quarter. Geode Capital Management LLC raised its holdings in TechnipFMC by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock worth $337,714,000 after purchasing an additional 193,244 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in TechnipFMC by 184.0% in 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 in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 2.2%

NYSE FTI opened at $67.93 on Thursday. TechnipFMC plc has a 12 month low of $31.44 and a 12 month high of $77.78. The stock has a market cap of $27.08 billion, a P/E ratio of 25.93, a P/E/G ratio of 1.49 and a beta of 0.69. The stock’s fifty day moving average price is $71.76 and its 200-day moving average price is $60.01. 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 released its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts forecast 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 was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is currently 7.63%.

Insider Transactions at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total transaction of $440,182.00. Following the sale, the director directly owned 59,887 shares of the company’s stock, valued at $4,151,366.84. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Luana Duffe sold 47,951 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $2,993,580.93. Following the sale, 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,210,092 shares of company stock valued at $75,347,124. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of research reports. UBS Group set a $80.00 price objective on TechnipFMC in a report on Wednesday. Citigroup increased their price objective on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada increased their price objective on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and increased their price objective for the stock from $49.00 to $62.00 in a report on Friday, February 20th. Finally, Evercore reiterated an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.71.

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.