Lifestyle Asset Management Inc. Takes Position in TechnipFMC plc $FTI

Key Points

• Lifestyle Asset Management disclosed a new fourth-quarter stake in TechnipFMC, buying 37,557 shares valued at about $1.67 million.
• TechnipFMC reported strong quarterly earnings, posting $0.64 EPS versus $0.57 expected and 11.6% revenue growth year over year, though revenue slightly missed estimates.
• The company paid a quarterly dividend of $0.05 per share, while analysts remain broadly positive with a Moderate Buy consensus and a target price around $69.71.

Lifestyle Asset Management Inc. acquired a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,557 shares of the oil and gas company's stock, valued at approximately $1,674,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Savvy Advisors Inc. bought a new stake in shares of TechnipFMC during the third quarter valued at approximately $708,000. Principal Financial Group Inc. raised its position in shares of TechnipFMC by 5,157.7% during the third quarter. Principal Financial Group Inc. now owns 912,896 shares of the oil and gas company's stock valued at $36,014,000 after buying an additional 895,533 shares during the last quarter. Archford Capital Strategies LLC bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $1,691,000. Asset Management One Co. Ltd. bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $833,000. Finally, Farther Finance Advisors LLC raised its position in shares of TechnipFMC by 394.3% during the fourth quarter. Farther Finance Advisors LLC now owns 11,848 shares of the oil and gas company's stock valued at $528,000 after buying an additional 9,451 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

TechnipFMC Trading Up 1.7%

FTI stock opened at $69.11 on Friday. The firm has a fifty day moving average price of $71.74 and a 200 day moving average price of $60.19. TechnipFMC plc has a fifty-two week low of $31.64 and a fifty-two week high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a market cap of $27.55 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.46 and a beta of 0.69.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. TechnipFMC's quarterly 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 earnings per share. Sell-side analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, May 1st. UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday. Barclays raised their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a report on Friday, May 8th. BMO Capital Markets raised their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the company a "market perform" rating in a report on Monday, February 23rd. Finally, Zacks Research lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. 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. According to MarketBeat.com, TechnipFMC has a consensus rating of "Moderate Buy" and a consensus target price of $69.71.

Insider Activity at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.10, for a total transaction 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 $7,431,320.70. The trade was a 59.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alf Melin sold 83,721 shares of TechnipFMC stock in a transaction on Monday, March 9th. The stock was sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the transaction, the chief financial officer directly owned 282,537 shares of the company's stock, valued at $17,469,262.71. The trade was a 22.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,210,092 shares of company stock valued at $75,347,124 over the last three months. Corporate insiders own 1.40% of the company's stock.

About TechnipFMC

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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