Strategic Global Advisors LLC Acquires New Stake in TechnipFMC plc $FTI

Strategic Global Advisors LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 36,804 shares of the oil and gas company’s stock, valued at approximately $1,640,000.

Several other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in TechnipFMC by 34.0% in the 3rd quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock valued at $525,339,000 after acquiring an additional 3,378,159 shares in the last quarter. State Street Corp lifted its position 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 valued at $508,276,000 after acquiring an additional 4,938,498 shares in the last quarter. Boston Partners lifted its position 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 valued at $389,018,000 after acquiring an additional 192,549 shares in the last quarter. Geode Capital Management LLC lifted its position in TechnipFMC by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock valued at $337,714,000 after acquiring an additional 193,244 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in TechnipFMC by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,944,048 shares of the oil and gas company’s stock worth $220,328,000 after buying an additional 180,418 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the transaction, the director owned 59,887 shares in the company, valued at $4,151,366.84. This represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

TechnipFMC Stock Down 0.1%

Shares of FTI stock opened at $70.70 on Monday. 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 firm’s 50-day moving average is $71.67 and its 200-day moving average is $61.26. The stock has a market cap of $28.19 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.52 and a beta of 0.69. TechnipFMC plc has a 52-week low of $31.88 and a 52-week high of $77.78.

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

TechnipFMC Announces Dividend

The business 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. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio is 7.63%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FTI shares. Piper Sandler boosted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Evercore reissued an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.71.

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.