North Dakota State Investment Board Makes New $639,000 Investment in TechnipFMC plc $FTI

Key Points

• North Dakota State Investment Board opened a new position in TechnipFMC, buying 14,338 shares worth about $639,000 in the fourth quarter.
• Wall Street sentiment remains constructive, with several analysts raising price targets and the stock carrying a Moderate Buy consensus rating and a $69 average target price.
• TechnipFMC reported stronger-than-expected quarterly earnings of $0.64 EPS versus $0.57 expected, while revenue rose 11.6% year over year; however, insiders have also been selling shares recently.

North Dakota State Investment Board bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,338 shares of the oil and gas company's stock, valued at approximately $639,000.

A number of other hedge funds also recently added to or reduced their stakes in FTI. Harbor Investment Advisory LLC acquired a new stake in TechnipFMC during the 4th quarter worth approximately $32,000. Newbridge Financial Services Group Inc. acquired a new stake in TechnipFMC during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. lifted its holdings in TechnipFMC by 45.3% during the 1st 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. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC during the 4th quarter worth approximately $41,000. Finally, Torren Management LLC acquired a new stake in TechnipFMC during the 4th quarter worth approximately $45,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FTI shares. The Goldman Sachs Group increased their target price on shares of TechnipFMC from $66.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Citigroup raised their price objective on shares of TechnipFMC from $48.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Zacks Research lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, Evercore restated an "outperform" rating and issued a $83.00 price objective on shares of TechnipFMC in a report 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 given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

TechnipFMC Trading Down 1.1%

Shares of TechnipFMC stock opened at $71.45 on Friday. TechnipFMC plc has a 1 year low of $28.87 and a 1 year 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 company has a market capitalization of $28.49 billion, a P/E ratio of 27.27, a PEG ratio of 1.56 and a beta of 0.74. The company's fifty day moving average is $70.98 and its two-hundred day moving average is $58.34.

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

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be given 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 is Tuesday, May 19th. TechnipFMC's dividend payout ratio (DPR) is presently 7.63%.

Insider Activity at TechnipFMC

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 733,424 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the transaction, the chief executive officer directly owned 2,411,852 shares of the company's stock, valued at approximately $150,113,668.48. This trade represents a 23.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alf Melin sold 83,721 shares of the firm's 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 in the company, valued at $17,469,262.71. The trade was a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,216,442 shares of company stock worth $75,762,414 in the last three months. Company insiders own 1.40% of the company's stock.

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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