111,186 Shares in TechnipFMC plc $FTI Bought by Future Fund LLC

Key Points

• Future Fund LLC opened a new position in TechnipFMC, buying 111,186 shares valued at about $4.95 million. The stake represents roughly 1.7% of the fund’s portfolio and its fifth-largest holding.
• TechnipFMC reported strong quarterly earnings, posting $0.64 per share versus the $0.57 consensus estimate. Revenue rose 11.6% year over year to $2.49 billion, though it came in slightly below expectations.
• The company announced a quarterly dividend of $0.05 per share, payable June 3, which works out to an annualized yield of about 0.3%. Meanwhile, Wall Street remains cautiously positive with a Moderate Buy consensus rating and a $69 target price.

Future Fund LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 111,186 shares of the oil and gas company's stock, valued at approximately $4,954,000. TechnipFMC makes up about 1.7% of Future Fund LLC's investment portfolio, making the stock its 5th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC during the 4th quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC during the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. boosted its position in shares of TechnipFMC by 45.3% during the 1st 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TechnipFMC during the 4th quarter worth about $41,000. Finally, Torren Management LLC acquired a new position in shares of TechnipFMC during the 4th quarter worth about $45,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $68.16 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a twelve month low of $30.64 and a twelve month high of $77.78. The stock has a 50 day moving average of $71.64 and a two-hundred day moving average of $59.37. The stock has a market cap of $27.17 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.46 and a beta of 0.74.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.49 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be paid a $0.05 dividend. 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 payout ratio is currently 7.63%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Barclays upped their price objective on TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Citigroup upped their price objective on TechnipFMC from $48.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Piper Sandler upped their price objective on TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, UBS Group set a $70.00 price objective on TechnipFMC in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Insider Buying and Selling

In other TechnipFMC news, insider Jonathan Landes sold 116,194 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.20, for a total value of $7,227,266.80. Following the completion of the sale, the insider owned 71,356 shares in the company, valued at approximately $4,438,343.20. The trade was a 61.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alf Melin sold 43,554 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total value of $2,749,564.02. Following the sale, the chief financial officer directly owned 238,983 shares of the company's stock, valued at approximately $15,086,996.79. This represents a 15.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,210,092 shares of company stock valued at $75,347,124 in the last 90 days. Company insiders own 1.40% of the company's stock.

TechnipFMC Company 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.

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