TechnipFMC (NYSE:FTI) EVP Sells $10,698,339.60 in Stock

TechnipFMC plc (NYSE:FTI) EVP Justin Rounce sold 172,276 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the transaction, the executive vice president directly owned 119,667 shares in the company, valued at approximately $7,431,320.70. The trade was a 59.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

TechnipFMC Stock Up 0.8%

Shares of NYSE FTI opened at $63.01 on Friday. The firm has a market cap of $25.21 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.15 and a beta of 0.70. The company’s 50-day simple moving average is $58.39 and its 200-day simple moving average is $47.33. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $68.29.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. Equities analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.05 per share. 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 presently 8.66%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FTI shares. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. BMO Capital Markets increased their price objective on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. Barclays reaffirmed an “overweight” rating and set a $69.00 target price on shares of TechnipFMC in a research note on Friday, February 20th. Finally, UBS Group set a $70.00 target price on shares of TechnipFMC in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.47.

Hedge Funds Weigh In On TechnipFMC

Institutional investors have recently bought and sold shares of the company. Boston Partners boosted its holdings in TechnipFMC by 267.5% in the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after purchasing an additional 7,038,640 shares during the last quarter. State Street Corp increased its holdings in shares of TechnipFMC by 62.2% during 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 buying an additional 4,938,498 shares during the last quarter. Norges Bank purchased a new stake in shares of TechnipFMC during the 4th quarter valued at approximately $205,468,000. Invesco Ltd. raised its position in shares of TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after buying an additional 4,437,960 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after acquiring an additional 3,549,839 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.