Prudential PLC Acquires 191,166 Shares of TechnipFMC plc $FTI

Prudential PLC lifted its holdings in TechnipFMC plc (NYSE:FTI) by 531.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 227,143 shares of the oil and gas company’s stock after purchasing an additional 191,166 shares during the period. Prudential PLC’s holdings in TechnipFMC were worth $10,121,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FTI. Westfield Capital Management Co. LP boosted its holdings in shares of TechnipFMC by 31.9% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,952,427 shares of the oil and gas company’s stock valued at $87,000,000 after buying an additional 472,317 shares during the last quarter. Vise Technologies Inc. boosted its holdings in shares of TechnipFMC by 30.9% in the 4th quarter. Vise Technologies Inc. now owns 8,060 shares of the oil and gas company’s stock valued at $359,000 after buying an additional 1,902 shares during the last quarter. Globeflex Capital L P boosted its holdings in shares of TechnipFMC by 21.0% in the 4th quarter. Globeflex Capital L P now owns 22,129 shares of the oil and gas company’s stock valued at $986,000 after buying an additional 3,842 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of TechnipFMC by 94.0% in the 4th quarter. Sivia Capital Partners LLC now owns 30,449 shares of the oil and gas company’s stock valued at $1,357,000 after buying an additional 14,757 shares during the last quarter. Finally, Marietta Investment Partners LLC acquired a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $2,740,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Down 3.3%

FTI opened at $66.76 on Friday. TechnipFMC plc has a 1-year low of $31.88 and a 1-year high of $77.78. The stock’s fifty day simple moving average is $71.66 and its 200 day simple moving average is $60.24. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock has a market cap of $26.62 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last posted 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. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is 7.63%.

Analyst Ratings Changes

Several equities research analysts have recently commented on FTI shares. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays increased their price objective on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Citigroup increased their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and increased their price objective for the company from $49.00 to $62.00 in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus price target of $69.71.

Insiders Place Their Bets

In related news, CAO David Light sold 6,622 shares of the 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 owned 5,005 shares in the company, valued at approximately $312,462.15. This represents a 56.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the sale, the director owned 59,887 shares in the company, valued at approximately $4,151,366.84. This trade represents a 9.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,210,092 shares of company stock worth $75,347,124 in the last quarter. Company insiders own 1.40% of the company’s stock.

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.