Stephens Investment Management Group LLC Trims Position in TechnipFMC plc $FTI

Key Points

• Stephens Investment Management Group cut its TechnipFMC stake by 29.9% in the fourth quarter, selling 704,603 shares and leaving it with 1,653,866 shares worth about $73.7 million.
• Analysts remain broadly bullish on FTI: several firms raised price targets, and the stock now has a consensus rating of Moderate Buy with an average target of $66.53.
• TechnipFMC beat quarterly earnings expectations, posting $0.64 EPS versus the $0.57 estimate, while revenue rose 11.6% year over year; the company also announced a quarterly dividend of $0.05 per share.

Stephens Investment Management Group LLC lessened its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 29.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,653,866 shares of the oil and gas company's stock after selling 704,603 shares during the period. Stephens Investment Management Group LLC owned 0.41% of TechnipFMC worth $73,696,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC bought a new stake in shares of TechnipFMC in the fourth quarter valued at about $32,000. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC during the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. grew 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 acquiring an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in TechnipFMC during the 4th quarter worth about $41,000. Finally, Torren Management LLC bought a new position in TechnipFMC during the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on FTI. Citigroup increased their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. BMO Capital Markets increased their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a "market perform" rating in a report on Monday, February 23rd. TD Cowen reiterated a "buy" rating on shares of TechnipFMC in a report on Friday, February 20th. Finally, UBS Group set a $70.00 target price on shares of TechnipFMC in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.53.

TechnipFMC Stock Performance

FTI stock opened at $71.21 on Friday. The firm has a market cap of $28.39 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.45 and a beta of 0.74. The firm has a 50-day simple moving average of $70.27 and a two-hundred day simple moving average of $57.33. TechnipFMC plc has a one year low of $28.87 and a one 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.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The business 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%. The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. On average, equities analysts forecast that TechnipFMC plc will post 2.95 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared 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 dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, May 19th. TechnipFMC's dividend payout ratio is presently 7.63%.

Insider Buying and Selling at TechnipFMC

In related news, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction that occurred 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 completion of the sale, the insider directly owned 71,356 shares in the company, valued at $4,438,343.20. This trade represents a 61.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO David Light sold 6,622 shares of TechnipFMC 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 $413,411.46. Following the completion of the sale, the chief accounting officer owned 5,005 shares of the company's stock, valued at $312,462.15. This trade represents a 56.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is currently owned by corporate insiders.

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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