TechnipFMC plc $FTI Stake Increased by Todd Asset Management LLC

Todd Asset Management LLC grew its holdings in TechnipFMC plc (NYSE:FTI) by 52.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 825,835 shares of the oil and gas company’s stock after purchasing an additional 283,129 shares during the period. Todd Asset Management LLC’s holdings in TechnipFMC were worth $36,800,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FTI. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC in the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC in the third quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TechnipFMC in the fourth quarter worth $41,000. Torren Management LLC acquired a new position in shares of TechnipFMC in the fourth quarter worth $45,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FTI. The Goldman Sachs Group upped their price target on shares of TechnipFMC from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Evercore reaffirmed an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. Piper Sandler upped their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Barclays upped their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

TechnipFMC Stock Up 0.1%

NYSE FTI opened at $71.09 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 has a 50-day simple moving average of $71.12 and a 200 day simple moving average of $58.54. TechnipFMC plc has a twelve month low of $28.89 and a twelve month high of $77.78. The stock has a market cap of $28.35 billion, a PE ratio of 27.14, a PEG ratio of 1.53 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last announced its quarterly 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. The firm had revenue of $2.49 billion during 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%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. On average, research analysts forecast that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Insider Activity

In other TechnipFMC news, EVP Luana Duffe sold 47,951 shares of the firm’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alf Melin sold 83,721 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the transaction, the chief financial officer owned 282,537 shares of the company’s stock, valued at approximately $17,469,262.71. This represents a 22.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is owned by company insiders.

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.