Corigliano Investment Advisers LLC Makes New Investment in TechnipFMC plc (NYSE:FTI)

Corigliano Investment Advisers LLC purchased a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 397,076 shares of the oil and gas company's stock, valued at approximately $11,491,000. TechnipFMC makes up approximately 5.5% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 4th biggest position. Corigliano Investment Advisers LLC owned 0.09% of TechnipFMC as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its stake in shares of TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after acquiring an additional 679,748 shares during the period. Avantax Advisory Services Inc. grew its position in TechnipFMC by 24.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock worth $634,000 after purchasing an additional 4,314 shares during the period. Park Avenue Securities LLC purchased a new stake in TechnipFMC during the 4th quarter valued at $519,000. Raymond James Financial Inc. bought a new position in shares of TechnipFMC during the 4th quarter valued at $9,152,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of TechnipFMC by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock worth $105,618,000 after buying an additional 249,719 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares of the company's stock, valued at $3,004,301.76. The trade was a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by insiders.

TechnipFMC Price Performance

Shares of NYSE:FTI traded up $0.20 during midday trading on Friday, reaching $29.90. 3,203,823 shares of the company were exchanged, compared to its average volume of 3,994,016. The stock has a market cap of $12.53 billion, a PE ratio of 19.67 and a beta of 0.98. The business's fifty day moving average is $27.60 and its two-hundred day moving average is $29.07. TechnipFMC plc has a one year low of $22.12 and a one year high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company earned $0.22 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. TechnipFMC's dividend payout ratio (DPR) is 10.53%.

Analysts Set New Price Targets

A number of research firms have weighed in on FTI. Susquehanna lowered their target price on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday, April 14th. StockNews.com downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays upped their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Piper Sandler lifted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Evercore ISI raised their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.83.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.