Ninety One UK Ltd Has $19.62 Million Stock Holdings in TechnipFMC plc $FTI

Key Points

• Ninety One UK Ltd increased its stake in TechnipFMC by 33.5% in Q4, acquiring 110,412 shares to hold 440,185 shares worth about $19.62 million (0.11% of the company).
• Insiders have been net sellers recently—1,216,442 shares valued at roughly $75.76 million were sold in the last 90 days, leaving insiders with about 1.40% ownership.
• Analyst sentiment is positive: the stock carries a consensus Moderate Buy rating with an average price target of $61.73, and several firms have recently raised targets (as high as $83/$80/$76).

Ninety One UK Ltd grew its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 33.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 440,185 shares of the oil and gas company's stock after acquiring an additional 110,412 shares during the quarter. Ninety One UK Ltd owned 0.11% of TechnipFMC worth $19,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FTI. Focus Partners Wealth boosted its position 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 acquiring an additional 5,161 shares during the period. Geneos Wealth Management Inc. boosted its position 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 acquiring an additional 340 shares during the period. Sivia Capital Partners LLC boosted its position in shares of 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 valued at $508,000 after acquiring an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 valued at $188,000 after acquiring an additional 3,105 shares during the period. Finally, Ossiam boosted its position in shares of TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock valued at $55,000 after acquiring an additional 546 shares during the period. 96.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FTI has been the subject of several research reports. Susquehanna increased their price objective on TechnipFMC from $82.00 to $83.00 and gave the company a "positive" rating in a research report on Tuesday, April 7th. Piper Sandler increased their price objective on TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday. Citigroup increased their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Zacks Research raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 23rd. Finally, Barclays reissued an "overweight" rating and issued a $69.00 price objective on shares of TechnipFMC in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.73.

Insider Activity at TechnipFMC

In other TechnipFMC news, EVP Luana Duffe sold 47,951 shares of TechnipFMC stock in a transaction 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 directly owned 78,871 shares of the company's stock, valued at approximately $4,923,916.53. This trade 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 can be accessed through this link. Also, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.20, for a total value of $7,227,266.80. Following the transaction, the insider directly owned 71,356 shares of the company's stock, valued at approximately $4,438,343.20. The trade was a 61.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,216,442 shares of company stock valued at $75,762,414. Insiders own 1.40% of the company's stock.

TechnipFMC Stock Down 3.2%

Shares of FTI stock opened at $70.46 on Friday. The stock has a market cap of $28.29 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.48 and a beta of 0.71. TechnipFMC plc has a one year low of $24.36 and a one year high of $75.52. The stock has a fifty day moving average price of $66.79 and a 200 day moving average price of $52.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.TechnipFMC's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.54 earnings per share. Analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is presently 8.66%.

TechnipFMC 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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