Dynamic Technology Lab Private Ltd Takes $1.71 Million Position in TechnipFMC plc $FTI

Key Points

• Dynamic Technology Lab initiated a new stake in TechnipFMC, buying 43,354 shares worth about $1.71 million in Q3, while other institutions (notably Bank of New York Mellon) also significantly increased positions, leaving institutional ownership near 96.6%.
• TechnipFMC beat quarterly EPS estimates ($0.70 vs. $0.51) with revenue up 6.3% year-over-year, and the company declared a quarterly dividend of $0.05 per share (annualized $0.20, ~0.3% yield).
• Analysts have raised targets and ratings (several to the mid-$60s/low-$70s), giving TechnipFMC an average consensus of "Moderate Buy" and an average price target of $58.47.

Dynamic Technology Lab Private Ltd acquired a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 43,354 shares of the oil and gas company's stock, valued at approximately $1,710,000.

Several other institutional investors have also recently modified their holdings of FTI. AE Wealth Management LLC grew its holdings in shares of TechnipFMC by 38.0% during the third quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company's stock worth $7,243,000 after buying an additional 50,593 shares in the last quarter. Lingohr Asset Management GmbH lifted its stake in shares of TechnipFMC by 461.7% during the third quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company's stock valued at $8,375,000 after buying an additional 174,500 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of TechnipFMC by 80.6% during 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 buying an additional 1,415,621 shares during the period. Rothschild Investment LLC boosted its position in TechnipFMC by 25,468.9% during the third quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company's stock worth $454,000 after acquiring an additional 11,461 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in TechnipFMC by 8.4% during the third quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company's stock worth $12,053,000 after acquiring an additional 23,600 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 6,350 shares of the company's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the sale, the director directly owned 97,860 shares in the company, valued at $6,400,044. This represents a 6.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Stock Performance

Shares of FTI stock opened at $62.93 on Friday. 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 firm has a market capitalization of $25.18 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.17 and a beta of 0.70. TechnipFMC plc has a one year low of $22.11 and a one year high of $68.29. The company has a 50 day moving average price of $56.56 and a 200 day moving average price of $46.43.

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

TechnipFMC Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Susquehanna boosted their price target on TechnipFMC from $56.00 to $71.00 and gave the company a "positive" rating in a report on Friday, February 20th. Royal Bank Of Canada raised their price objective on TechnipFMC from $47.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, February 20th. UBS Group set a $70.00 price objective on TechnipFMC in a research report on Friday, February 20th. BMO Capital Markets upped their target price on TechnipFMC from $52.00 to $67.00 and gave the company a "market perform" rating in a research note on Monday, February 23rd. Finally, The Goldman Sachs Group increased their target price on TechnipFMC from $55.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and an average price target of $58.47.

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.

Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechnipFMC plc (NYSE:FTI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.