Friedenthal Financial Buys New Position in TechnipFMC plc $FTI

Key Points

• Friedenthal Financial opened a new position in TechnipFMC in Q4, purchasing 21,121 shares worth about $941,000.
• Company insiders executed large sales in March — EVP Luana Duffe sold 47,951 shares and EVP Justin Rounce sold 172,276 shares — with insiders offloading a total of 1,216,442 shares valued at about $75.76 million in the last quarter.
• TechnipFMC reported Q4 EPS $0.70 (beat estimates) on $2.52B revenue (slightly below expectations), announced a $0.05 quarterly dividend (annualized yield ~0.3%), and trades at a market cap of $28.29B with a P/E of 30.5.

Friedenthal Financial bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,121 shares of the oil and gas company's stock, valued at approximately $941,000.

A number of other large investors have also recently made changes to their positions in FTI. Blue Trust Inc. boosted its position in shares of TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 657 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of TechnipFMC in the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. acquired a new stake in TechnipFMC during the 3rd quarter worth $32,000. Geneos Wealth Management Inc. boosted its stake in TechnipFMC by 45.3% during the 1st 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 period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC during the 4th quarter worth $41,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Down 3.2%

Shares of NYSE FTI opened at $70.46 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 52 week low of $24.36 and a 52 week high of $75.52. The firm has a 50-day moving average price of $66.79 and a 200 day moving average price of $52.83. The stock has a market capitalization of $28.29 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.48 and a beta of 0.71.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.TechnipFMC's revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. Equities research analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Analyst Upgrades and Downgrades

FTI has been the subject of a number of recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of TechnipFMC in a research note on Thursday, January 22nd. Citigroup increased their price objective on TechnipFMC from $48.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Piper Sandler increased their price objective on TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, April 4th. Finally, BMO Capital Markets increased their price objective on TechnipFMC from $52.00 to $67.00 and gave the stock a "market perform" rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and an average price target of $61.73.

Insider Activity at TechnipFMC

In other news, EVP Luana Duffe sold 47,951 shares of the business's stock in a transaction on 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 directly owned 78,871 shares of the company's stock, valued at $4,923,916.53. The trade was a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Justin Rounce sold 172,276 shares of the business's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.10, for a total value of $10,698,339.60. Following the completion of the transaction, the executive vice president directly owned 119,667 shares of the company's stock, valued at approximately $7,431,320.70. This trade represents a 59.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,216,442 shares of company stock valued at $75,762,414 in the last quarter. 1.40% of the stock is owned by corporate insiders.

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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