Calamos Advisors LLC Sells 58,113 Shares of TechnipFMC plc $FTI

Key Points

• Calamos Advisors LLC trimmed its stake in TechnipFMC by 20%, selling 58,113 shares in the fourth quarter and now holding 232,039 shares worth about $10.34 million (0.06% of the company).
• Significant insider selling occurred: CEO Douglas J. Pferdehirt sold 733,424 shares (~$45.65M) and CFO Alf Melin sold 83,721 shares (~$5.18M), with insiders offloading 1,216,442 shares totaling roughly $75.76M in the last three months.
• Brokerages have turned more positive—RBC, Goldman Sachs, Barclays, Susquehanna and UBS raised targets or ratings—leaving a consensus of Moderate Buy and an average target of $61.73, while the stock trades near its 52‑week high (~$74.86) after a recent EPS beat.

Calamos Advisors LLC trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,039 shares of the oil and gas company's stock after selling 58,113 shares during the period. Calamos Advisors LLC owned 0.06% of TechnipFMC worth $10,340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FTI. State Street Corp raised its stake in shares of TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock worth $508,276,000 after buying an additional 4,938,498 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of TechnipFMC by 34.0% during the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company's stock worth $525,339,000 after buying an additional 3,378,159 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of 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. Bank of New York Mellon Corp increased its stake in TechnipFMC by 80.6% in the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company's stock valued at $125,144,000 after purchasing an additional 1,415,621 shares in the last quarter. Finally, Danske Bank A S bought a new stake in TechnipFMC in the third quarter valued at approximately $52,848,000. 96.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on FTI. Royal Bank Of Canada upped their target price on shares of TechnipFMC from $47.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. The Goldman Sachs Group upped their target price on shares of TechnipFMC from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. Barclays reaffirmed an "overweight" rating and issued a $69.00 target price on shares of TechnipFMC in a research note on Friday, February 20th. Susquehanna upped their target price on shares of TechnipFMC from $82.00 to $83.00 and gave the company a "positive" rating in a research note on Tuesday, April 7th. Finally, UBS Group set a $70.00 target price on shares of TechnipFMC in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $61.73.

Insider Buying and Selling

In other news, CEO Douglas J. Pferdehirt sold 733,424 shares of the company's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.24, for a total value of $45,648,309.76. Following the completion of the transaction, the chief executive officer owned 2,411,852 shares in the company, valued at $150,113,668.48. This represents a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alf Melin sold 83,721 shares of the company's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the completion of the transaction, the chief financial officer owned 282,537 shares of the company's stock, valued at $17,469,262.71. This trade represents a 22.86% 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 valued at $75,762,414. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Stock Up 3.3%

Shares of NYSE:FTI opened at $74.86 on Friday. TechnipFMC plc has a 52 week low of $27.23 and a 52 week high of $75.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The company has a market capitalization of $30.06 billion, a PE ratio of 32.41, a PEG ratio of 1.47 and a beta of 0.71. The company has a 50 day moving average price of $67.94 and a two-hundred day moving average price of $54.02.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.19. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. Analysts forecast that TechnipFMC plc will post 2.92 earnings per share for the current year.

TechnipFMC Announces Dividend

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

About TechnipFMC

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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