Future Fund LLC Sells 33,801 Shares of TechnipFMC plc $FTI

Key Points

• Future Fund LLC cut its TechnipFMC stake by 30.4% in the first quarter, selling 33,801 shares and leaving it with 77,385 shares valued at about $5.35 million. TechnipFMC remains the fund’s 4th-largest holding, representing 1.9% of its portfolio.
• TechnipFMC delivered stronger-than-expected quarterly results, reporting EPS of $0.64 versus the $0.57 consensus estimate, with revenue up 11.6% year over year to $2.49 billion. Analysts currently expect full-year EPS of 3.01.
• Wall Street remains mostly positive on the stock, with several firms recently raising price targets to the $80–$83 range. The shares have a consensus rating of “Moderate Buy” and an average price target of $69.64.

Future Fund LLC decreased its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 30.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,385 shares of the oil and gas company's stock after selling 33,801 shares during the quarter. TechnipFMC accounts for about 1.9% of Future Fund LLC's holdings, making the stock its 4th biggest holding. Future Fund LLC's holdings in TechnipFMC were worth $5,350,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FTI. V Square Quantitative Management LLC acquired a new stake in TechnipFMC during the 1st quarter worth approximately $26,000. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC in the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. increased its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 340 shares during the period. Finally, Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC in the first quarter valued at $37,000. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $72.09 on Friday. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The firm has a market capitalization of $28.74 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70. The business's fifty day moving average price is $69.26 and its 200 day moving average price is $65.15.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $0.33 EPS. TechnipFMC's revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FTI. Royal Bank Of Canada lifted their target price on TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Evercore restated an "outperform" rating and set a $83.00 price target on shares of TechnipFMC in a report on Friday, May 1st. Citigroup increased their price target on TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Weiss Ratings raised TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $69.64.

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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