Caerus Investment Advisors LLC Purchases Shares of 21,410 TechnipFMC plc $FTI

Key Points

• Caerus Investment Advisors opened a new position in TechnipFMC in Q3, purchasing 21,410 shares valued at about $845,000.
• Major institutions materially increased stakes—AQR (+34% to 13.3M shares), State Street (+62.2% to 12.88M) and AllianceBernstein (+184% to 4.8M)—leaving institutional investors owning 96.58% of the company.
• Insiders sold 1,210,092 shares worth $75.3M over the last three months (including EVP Justin Rounce and CFO Alf Melin); corporate insiders now hold 1.80% of the stock.

Caerus Investment Advisors LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,410 shares of the oil and gas company's stock, valued at approximately $845,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of TechnipFMC by 34.0% in the 3rd quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company's stock worth $525,339,000 after purchasing an additional 3,378,159 shares during the last quarter. State Street Corp lifted its holdings in TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock valued at $508,276,000 after purchasing an additional 4,938,498 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in TechnipFMC by 2.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company's stock valued at $409,262,000 after buying an additional 232,491 shares in the last quarter. Boston Partners grew its stake in TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company's stock worth $389,018,000 after buying an additional 192,549 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in TechnipFMC by 184.0% during the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company's stock worth $189,460,000 after buying an additional 3,111,399 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group set a $70.00 target price on shares of TechnipFMC in a research note on Friday, February 20th. Susquehanna lifted their price objective on TechnipFMC from $56.00 to $71.00 and gave the company a "positive" rating in a research report on Friday, February 20th. Zacks Research upgraded TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Friday, January 23rd. Piper Sandler raised their target price on TechnipFMC from $49.00 to $52.00 and gave the company an "overweight" rating in a research note on Thursday, December 18th. Finally, HSBC cut 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 report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $58.47.

Insider Activity

In other TechnipFMC news, EVP Justin Rounce sold 172,276 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the completion of the sale, the executive vice president directly owned 119,667 shares of the company's stock, valued at approximately $7,431,320.70. The trade was a 59.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alf Melin sold 43,554 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the completion of the transaction, the chief financial officer directly owned 238,983 shares in the company, valued at $15,086,996.79. This trade represents a 15.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,210,092 shares of company stock worth $75,322,232. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Stock Performance

FTI stock opened at $65.24 on Wednesday. The company has a 50 day moving average price of $59.04 and a 200 day moving average price of $47.87. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $68.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89. The stock has a market capitalization of $26.10 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 1.17 and a beta of 0.70.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.19. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. Analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, March 17th. TechnipFMC's dividend payout ratio (DPR) is presently 8.66%.

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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