Cumberland Partners Ltd Purchases 30,000 Shares of TechnipFMC plc $FTI

Key Points

• Cumberland Partners Ltd increased its TechnipFMC stake by 85.7% in the fourth quarter, buying 30,000 more shares and bringing its total holdings to 65,000 shares worth about $2.9 million.
• TechnipFMC reported strong quarterly earnings, with EPS of $0.64 topping estimates and revenue rising 11.6% year over year, though revenue came in slightly below analyst forecasts.
• Wall Street sentiment remains positive: several analysts raised price targets, and the stock now carries a consensus Moderate Buy rating with a $69 average target price, while the company also declared a quarterly dividend of $0.05 per share.

Cumberland Partners Ltd lifted its position in TechnipFMC plc (NYSE:FTI - Free Report) by 85.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 65,000 shares of the oil and gas company's stock after purchasing an additional 30,000 shares during the period. Cumberland Partners Ltd's holdings in TechnipFMC were worth $2,896,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in TechnipFMC by 34.0% in 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 acquiring an additional 3,378,159 shares during the period. State Street Corp lifted its stake in TechnipFMC by 62.2% in 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 acquiring an additional 4,938,498 shares during the period. Boston Partners lifted its stake in TechnipFMC by 2.0% in the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company's stock worth $389,018,000 after acquiring an additional 192,549 shares during the period. Alliancebernstein L.P. lifted its stake in TechnipFMC by 184.0% in 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 acquiring an additional 3,111,399 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in TechnipFMC by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,763,630 shares of the oil and gas company's stock worth $187,942,000 after acquiring an additional 137,507 shares during the period. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $71.09 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $28.35 billion, a P/E ratio of 27.14, a P/E/G ratio of 1.53 and a beta of 0.74. The business has a fifty day simple moving average of $71.12 and a two-hundred day simple moving average of $58.43. TechnipFMC plc has a 12 month low of $28.89 and a 12 month high of $77.78.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 earnings per share. On average, equities analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, May 19th. TechnipFMC's payout ratio is currently 7.63%.

Analyst Ratings Changes

FTI has been the subject of a number of research analyst reports. Citigroup raised their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Royal Bank Of Canada raised their price target on TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. UBS Group set a $70.00 price target on TechnipFMC in a research note on Friday, February 20th. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings raised TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued 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 $69.00.

Insider Transactions at TechnipFMC

In other news, EVP Luana Duffe sold 47,951 shares of TechnipFMC stock in a transaction dated Monday, March 9th. The stock was 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. The trade was a 37.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.20, for a total value of $7,227,266.80. Following the completion of the transaction, the insider directly owned 71,356 shares of the company's stock, valued at approximately $4,438,343.20. This represents a 61.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,216,442 shares of company stock worth $75,762,414 over the last quarter. Corporate insiders own 1.40% of the company's stock.

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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