Genus Capital Management Inc. Sells 30,700 Shares of TechnipFMC plc $FTI

Key Points

• Genus Capital Management reduced its stake in TechnipFMC by 34.7% in the fourth quarter, selling 30,700 shares and leaving it with 57,700 shares worth about $2.57 million.
• TechnipFMC reported strong quarterly earnings with EPS of $0.64, beating analyst estimates, while revenue rose 11.6% year over year to $2.49 billion.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and a target price of $69, even as recent insider selling and some mixed ratings have added caution.

Genus Capital Management Inc. lessened its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 34.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,700 shares of the oil and gas company's stock after selling 30,700 shares during the period. Genus Capital Management Inc.'s holdings in TechnipFMC were worth $2,571,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FTI. Harbor Investment Advisory LLC bought a new stake in TechnipFMC in the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC in the 3rd quarter valued at approximately $32,000. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in TechnipFMC in the 4th quarter valued at approximately $41,000. Finally, Torren Management LLC bought a new stake in TechnipFMC in the 4th quarter valued at approximately $45,000. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Up 0.1%

FTI stock opened at $71.09 on Monday. 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 PE ratio of 27.14, a PEG ratio of 1.53 and a beta of 0.74. TechnipFMC plc has a 1-year low of $28.89 and a 1-year high of $77.78. The business's 50 day simple moving average is $71.12 and its 200 day simple moving average is $58.54.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion for 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 firm's revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. As a group, research analysts anticipate that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's payout ratio is presently 7.63%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 172,276 shares of the company'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 transaction, the executive vice president directly owned 119,667 shares of the company's stock, valued at $7,431,320.70. This represents a 59.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Alf Melin sold 83,721 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $61.83, for a total value of $5,176,469.43. Following the completion of the transaction, the chief financial officer directly owned 282,537 shares in the company, valued at approximately $17,469,262.71. This represents a 22.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,216,442 shares of company stock worth $75,762,414 in the last three months. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on FTI. BMO Capital Markets boosted 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. Evercore restated an "outperform" rating and issued a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Piper Sandler boosted their target price on TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, UBS Group set a $70.00 price target on TechnipFMC in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

TechnipFMC Company 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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