Manatuck Hill Partners LLC Has $9.80 Million Stake in TechnipFMC plc $FTI

Key Points

• Manatuck Hill Partners increased its TechnipFMC stake by 15.8% in the fourth quarter, buying 30,000 more shares and bringing its total to 220,000 shares worth about $9.8 million.
• TechnipFMC reported strong quarterly earnings, with EPS of $0.64 beating expectations, while revenue rose 11.6% year over year to $2.49 billion despite coming in slightly below estimates.
• Analysts remain generally bullish on the stock, with a Moderate Buy consensus and an average price target of $69.71; some firms, including UBS and Susquehanna, have raised targets as high as $80 and $90.

Manatuck Hill Partners LLC boosted its position in TechnipFMC plc (NYSE:FTI - Free Report) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 220,000 shares of the oil and gas company's stock after purchasing an additional 30,000 shares during the period. TechnipFMC makes up about 3.4% of Manatuck Hill Partners LLC's portfolio, making the stock its 6th largest holding. Manatuck Hill Partners LLC owned 0.05% of TechnipFMC worth $9,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTI. Inspire Investing LLC boosted its position in shares of TechnipFMC by 4.5% during the 4th quarter. Inspire Investing LLC now owns 35,838 shares of the oil and gas company's stock valued at $1,597,000 after purchasing an additional 1,536 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of TechnipFMC by 36.2% in the fourth quarter. Janus Henderson Group PLC now owns 719,201 shares of the oil and gas company's stock valued at $32,058,000 after purchasing an additional 191,247 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of TechnipFMC by 65.2% during the fourth quarter. Gotham Asset Management LLC now owns 1,336,215 shares of the oil and gas company's stock valued at $59,542,000 after buying an additional 527,215 shares in the last quarter. Evolve Private Wealth LLC purchased a new stake in TechnipFMC in the 4th quarter worth about $1,544,000. Finally, Corigliano Investment Advisers LLC boosted its position in TechnipFMC by 15.4% during the 4th quarter. Corigliano Investment Advisers LLC now owns 14,500 shares of the oil and gas company's stock worth $646,000 after acquiring an additional 1,930 shares during the period. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

NYSE FTI opened at $67.24 on Thursday. The company has a market cap of $26.81 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.44 and a beta of 0.69. The company has a fifty day simple moving average of $71.44 and a 200 day simple moving average of $61.74. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The firm 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 business's revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. On average, sell-side analysts predict that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

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

Insider Transactions at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business's stock in a transaction on Tuesday, March 24th. The stock was 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 in the company, valued at $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

FTI has been the topic of several research analyst reports. UBS Group set a $80.00 target price on TechnipFMC in a research note on Wednesday, June 3rd. HSBC cut shares of TechnipFMC from a "buy" rating to a "hold" rating and raised their price target for the stock from $49.00 to $62.00 in a report on Friday, February 20th. TD Cowen reaffirmed a "buy" rating on shares of TechnipFMC in a research report on Friday, February 20th. Jefferies Financial Group reiterated a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Susquehanna lifted their target price on shares of TechnipFMC from $83.00 to $90.00 and gave the company a "positive" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $69.71.

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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