Barlow Wealth Partners LLC Sells 101,086 Shares of TechnipFMC plc $FTI

Key Points

• Barlow Wealth Partners reduced its TechnipFMC stake by 26% in the third quarter, selling 101,086 shares and retaining 287,914 shares worth approximately $20.1 million. Institutional investors collectively own 96.58% of the company.
• TechnipFMC reported quarterly revenue of $2.76 billion and earnings of $0.91 per share, exceeding analyst estimates of $2.67 billion and $0.80, respectively; revenue rose 9% year over year.
• Analyst sentiment remains broadly positive, with the stock carrying an average “Buy” rating and an average price target of $74.83, while shares recently traded at $68.22. The company also maintains a quarterly dividend of $0.05 per share.

Barlow Wealth Partners LLC lessened its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 26.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 287,914 shares of the oil and gas company's stock after selling 101,086 shares during the quarter. TechnipFMC accounts for about 2.1% of Barlow Wealth Partners LLC's portfolio, making the stock its 24th largest holding. Barlow Wealth Partners LLC owned about 0.07% of TechnipFMC worth $20,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in shares of TechnipFMC during the 1st quarter valued at approximately $26,000. Coppell Advisory Solutions LLC purchased a new position in shares of TechnipFMC in the 2nd quarter valued at about $35,000. Ascentis Independent Advisors purchased a new position in shares of TechnipFMC in the 1st quarter valued at about $37,000. Keating Financial Advisory Services Inc. acquired a new position in TechnipFMC in the 2nd quarter worth about $37,000. Finally, Ameritas Advisory Services LLC acquired a new position in TechnipFMC in the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Down 1.8%

Shares of NYSE FTI opened at $68.22 on Friday. The company's 50-day simple moving average is $73.88 and its 200-day simple moving average is $71.84. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.70. The firm has a market cap of $26.75 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.11 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company's revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts predict that TechnipFMC plc will post 3.20 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio is presently 6.94%.

Wall Street Analyst Weigh In

FTI has been the topic of a number of recent analyst reports. Citigroup increased their price target on TechnipFMC from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, September 15th. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Zacks Research raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Barclays reduced their target price on TechnipFMC from $87.00 to $86.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Susquehanna decreased their target price on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $74.83.

Insider Buying and Selling

In other news, Director Eric Mullins bought 6,365 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares in the company, valued at $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thierry Conti sold 6,000 shares of TechnipFMC stock in a transaction that occurred on 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 $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Company Profile

TechnipFMC plc NYSE: FTI is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company's Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.

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