Marietta Investment Partners LLC Invests $2.74 Million in TechnipFMC plc $FTI

Key Points

• Marietta Investment Partners opened a new position in TechnipFMC, buying 61,479 shares valued at about $2.74 million in the fourth quarter.
• TechnipFMC recently beat quarterly earnings expectations, reporting $0.64 EPS versus the $0.57 consensus, while revenue rose 11.6% year over year to $2.49 billion.
• Insider selling has been notable, with the company’s EVP and CFO both selling shares in March; overall, insiders have sold 1.21 million shares worth about $75.3 million over the past 90 days.

Marietta Investment Partners LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 61,479 shares of the oil and gas company's stock, valued at approximately $2,740,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Focus Partners Wealth boosted its stake in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock worth $764,000 after buying an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in 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 worth $35,000 after buying an additional 340 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in TechnipFMC by 76.1% in the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock worth $508,000 after buying an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in TechnipFMC by 132.5% in 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 buying an additional 3,105 shares in the last quarter. Finally, Ossiam boosted its stake in TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock worth $55,000 after buying an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $67.93 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC plc has a fifty-two week low of $31.44 and a fifty-two week high of $77.78. The stock has a 50 day moving average price of $71.76 and a two-hundred day moving average price of $60.01. The company has a market capitalization of $27.08 billion, a P/E ratio of 25.93, a PEG ratio of 1.49 and a beta of 0.69.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. Analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Analysts Set New Price Targets

FTI has been the subject of several research reports. TD Cowen reaffirmed a "buy" rating on shares of TechnipFMC in a research note on Friday, February 20th. HSBC lowered TechnipFMC from a "buy" rating to a "hold" rating and upped their target price for the stock from $49.00 to $62.00 in a research note on Friday, February 20th. UBS Group set a $80.00 target price on TechnipFMC in a research note on Wednesday. Zacks Research lowered TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.71.

Insider Activity at TechnipFMC

In related news, EVP Luana Duffe sold 47,951 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the transaction, the executive vice president owned 78,871 shares in the company, valued at $4,923,916.53. This represents a 37.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alf Melin sold 83,721 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer owned 282,537 shares of the company's stock, valued at approximately $17,469,262.71. This represents a 22.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,210,092 shares of company stock valued at $75,347,124 over the last 90 days. Company insiders own 1.40% of the company's stock.

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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