Boston Partners Cuts Holdings in TechnipFMC plc $FTI

Key Points

• Boston Partners trimmed its stake in TechnipFMC by 1.3% in the fourth quarter, though it still held nearly 9.74 million shares worth about $434 million at the end of the period.
• TechnipFMC recently beat earnings expectations, reporting $0.64 EPS versus the $0.57 consensus, while revenue rose 11.6% year over year to $2.49 billion.
• Analysts remain generally bullish on the stock, with an average rating of “Moderate Buy” and a consensus price target of $69.71, even as HSBC recently downgraded it to hold.

Boston Partners decreased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,736,346 shares of the oil and gas company's stock after selling 125,636 shares during the period. Boston Partners owned approximately 2.41% of TechnipFMC worth $433,998,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new position in TechnipFMC in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC in the third quarter worth about $32,000. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% in 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 last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in TechnipFMC in the fourth quarter worth about $41,000. Finally, Torren Management LLC bought a new stake in TechnipFMC in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

Insider Buying and Selling

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the sale, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Stock Performance

Shares of FTI stock opened at $70.70 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78. The stock has a market capitalization of $28.19 billion, a PE ratio of 26.98, a P/E/G ratio of 1.52 and a beta of 0.69. The firm has a 50 day moving average of $71.67 and a two-hundred day moving average of $61.15.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter last year, the company posted $0.33 EPS. The firm's revenue was up 11.6% compared to the same quarter last year. On average, research analysts predict that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC's dividend payout ratio (DPR) is presently 7.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. HSBC downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating and lifted their price target for the company from $49.00 to $62.00 in a research note on Friday, February 20th. Piper Sandler upped their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Jefferies Financial Group reaffirmed a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. TD Cowen reiterated a "buy" rating on shares of TechnipFMC in a research report on Friday, February 20th. Finally, Barclays upped their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.71.

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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