Abacus FCF Advisors LLC Has $12.59 Million Stake in TechnipFMC plc $FTI

Key Points

• Abacus FCF Advisors LLC increased its stake in TechnipFMC by 80.4% in Q4 to 282,620 shares (about $12.59M), making the position 1.6% of Abacus's portfolio and the firm's 26th largest holding.
• Significant insider selling: two executive VPs sold large blocks on March 9 (172,276 and 47,951 shares, roughly $10.7M and $3.0M), and insiders have sold 1,216,442 shares worth about $75.76M over the past three months.
• Recent results and valuation: TechnipFMC beat Q4 EPS expectations ($0.70 vs. $0.51) with revenue up 6.3% year-over-year, trades near $74.86 (market cap ~$30.1B), has a P/E of ~32.4 and a modest 0.3% dividend yield.

Abacus FCF Advisors LLC lifted its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 80.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,620 shares of the oil and gas company's stock after purchasing an additional 125,917 shares during the quarter. TechnipFMC accounts for 1.6% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 26th largest holding. Abacus FCF Advisors LLC owned 0.07% of TechnipFMC worth $12,594,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 657 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC during the third quarter worth approximately $32,000. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC during the fourth quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 340 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TechnipFMC during the fourth quarter worth approximately $41,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 172,276 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.10, for a total value of $10,698,339.60. Following the completion of the transaction, the executive vice president owned 119,667 shares in the company, valued at $7,431,320.70. This represents a 59.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Luana Duffe sold 47,951 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $2,993,580.93. Following the completion of the transaction, the executive vice president owned 78,871 shares of the company's stock, valued at $4,923,916.53. This trade represents a 37.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,216,442 shares of company stock worth $75,762,414. Company insiders own 1.40% of the company's stock.

TechnipFMC Trading Up 3.3%

Shares of TechnipFMC stock opened at $74.86 on Friday. The stock has a fifty day simple moving average of $67.94 and a 200 day simple moving average of $54.02. TechnipFMC plc has a 12-month low of $27.23 and a 12-month high of $75.52. The company has a market capitalization of $30.06 billion, a P/E ratio of 32.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 31.14% and a net margin of 9.70%.The business's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. On average, sell-side analysts anticipate that TechnipFMC plc will post 2.92 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, March 17th. TechnipFMC's dividend payout ratio is 8.66%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FTI shares. BMO Capital Markets upped their price target on TechnipFMC from $52.00 to $67.00 and gave the stock a "market perform" rating in a report on Monday, February 23rd. Susquehanna upped their price target on TechnipFMC from $82.00 to $83.00 and gave the stock a "positive" rating in a report on Tuesday, April 7th. TD Cowen reiterated a "buy" rating on shares of TechnipFMC in a report on Friday, February 20th. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. Finally, Citigroup upped their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. One equities research 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $61.73.

TechnipFMC 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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