53,255 TechnipFMC plc $FTI Shares Acquired by Calamos Advisors LLC

Key Points

• Calamos Advisors increased its TechnipFMC stake by 20.5%, adding 53,255 shares in the third quarter to hold 312,713 shares worth about $21.2 million. Institutional investors collectively own 96.58% of the company’s stock.
• TechnipFMC beat quarterly expectations, reporting earnings of $1.05 per share versus the $0.88 consensus and revenue of $2.90 billion, up 9.4% year over year.
• Analyst sentiment is broadly positive: the stock has a consensus “Buy” rating and a $78.18 price target, with 12 of 14 analysts rating it Buy or Strong Buy.

Calamos Advisors LLC increased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 20.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 312,713 shares of the oil and gas company's stock after buying an additional 53,255 shares during the period. Calamos Advisors LLC owned about 0.08% of TechnipFMC worth $21,239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of TechnipFMC in the 2nd quarter worth approximately $3,081,514,000. Bank of America Corp DE bought a new position in shares of TechnipFMC during the second quarter valued at approximately $226,069,000. Bank of New York Mellon Corp purchased a new position in TechnipFMC during the second quarter valued at approximately $173,262,000. Danske Bank A S purchased a new position in TechnipFMC during the second quarter valued at approximately $163,822,000. Finally, Legal & General Group Plc bought a new position in TechnipFMC in the second quarter worth approximately $149,673,000. 96.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FTI has been the subject of a number of analyst reports. Citigroup upped their target price on TechnipFMC from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, September 15th. UBS Group started coverage on TechnipFMC in a report on Monday, October 12th. They issued a "buy" rating and a $89.00 price target on the stock. Zacks Research raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Weiss Ratings cut TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, October 30th. Finally, Barclays upped their price objective on TechnipFMC from $86.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, November 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, TechnipFMC has an average rating of "Buy" and a consensus target price of $78.18.

TechnipFMC Trading Up 3.2%

NYSE FTI opened at $63.57 on Friday. TechnipFMC plc has a 52 week low of $41.73 and a 52 week high of $80.70. The company has a 50 day moving average price of $71.17 and a 200 day moving average price of $69.31. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.10. The firm has a market cap of $24.72 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 0.99 and a beta of 0.89.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.17. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.79 billion. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. TechnipFMC's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts forecast that TechnipFMC plc will post 3.28 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is presently 6.29%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the sale, the insider directly owned 85,813 shares in the company, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Mullins purchased 6,365 shares of the firm's stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the purchase, the director owned 8,070 shares of the company's stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.40% of the stock is owned by insiders.

TechnipFMC Company Profile

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services.

Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.

The company was formed in 2017 through the combination of Technip and FMC Technologies.

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