GSA Capital Partners LLP Acquires New Position in TechnipFMC plc $FTI

Key Points

• GSA Capital Partners opened a new position in TechnipFMC during the fourth quarter, buying 26,640 shares valued at about $1.19 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 96.58% of TechnipFMC shares, while insiders sold a notable 1.22 million shares last quarter worth about $75.8 million.
• TechnipFMC recently beat earnings expectations, posting EPS of $0.64 versus the $0.57 estimate, and it also announced a quarterly dividend of $0.05 per share payable June 3.

GSA Capital Partners LLP acquired a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,640 shares of the oil and gas company's stock, valued at approximately $1,187,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FTI. Focus Partners Wealth lifted its stake in shares of TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock valued at $764,000 after purchasing an additional 5,161 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 340 shares during the period. Sivia Capital Partners LLC raised its position in TechnipFMC by 76.1% during the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock worth $508,000 after acquiring an additional 6,381 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in TechnipFMC by 132.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company's stock worth $188,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Ossiam raised its position in TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock worth $55,000 after acquiring an additional 546 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Transactions at TechnipFMC

In related news, CAO David Light sold 6,622 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $413,411.46. Following the completion of the sale, the chief accounting officer directly owned 5,005 shares in the company, valued at approximately $312,462.15. The trade was a 56.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business's stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director owned 59,887 shares of the company's stock, valued at approximately $4,151,366.84. The trade was a 9.59% 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 valued at $75,762,414 in the last quarter. Insiders own 1.40% of the company's stock.

Analyst Ratings Changes

FTI has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of TechnipFMC from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. HSBC cut shares of TechnipFMC from a "buy" rating to a "hold" rating and lifted their target price for the stock from $49.00 to $62.00 in a research report on Friday, February 20th. UBS Group set a $70.00 target price on shares of TechnipFMC in a research report on Friday, February 20th. Zacks Research cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Finally, TD Cowen restated a "buy" rating on shares of TechnipFMC in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $66.53.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $72.23 on Thursday. The company has a market cap of $28.80 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.60 and a beta of 0.74. TechnipFMC plc has a 12 month low of $28.87 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 company has a 50-day simple moving average of $70.85 and a 200-day simple moving average of $58.13.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, equities analysts anticipate that TechnipFMC plc will post 2.96 earnings per share for the current year.

TechnipFMC Announces Dividend

The business 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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, May 19th. TechnipFMC's payout ratio is presently 7.63%.

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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