Teacher Retirement System of Texas Has $5.21 Million Stake in TechnipFMC plc $FTI

Key Points

• Teacher Retirement System of Texas trimmed its stake by 28% in Q4, selling 45,445 shares and now owning 116,925 TechnipFMC shares valued at $5.21 million.
• Wall Street sentiment is broadly positive — several analysts raised price targets (e.g., Citigroup to $76, Susquehanna to $83, Goldman to $75) and the stock has an average rating of "Moderate Buy" with a mean target of $61.73.
• Insiders sold heavily last quarter, disposing of 1,216,442 shares worth about $75.76 million, leaving insiders with roughly 1.40% ownership.

Teacher Retirement System of Texas trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 28.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,925 shares of the oil and gas company's stock after selling 45,445 shares during the quarter. Teacher Retirement System of Texas' holdings in TechnipFMC were worth $5,210,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Personal CFO Solutions LLC grew its position in shares of TechnipFMC by 3.0% in the fourth quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company's stock valued at $346,000 after purchasing an additional 225 shares during the last quarter. Geneos Wealth Management Inc. grew 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 purchasing an additional 340 shares during the last quarter. True Wealth Design LLC grew its position in shares of TechnipFMC by 8.6% in the fourth quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company's stock valued at $200,000 after purchasing an additional 357 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of TechnipFMC by 1.5% in the third quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company's stock valued at $948,000 after purchasing an additional 365 shares during the last quarter. Finally, Gries Financial LLC grew its position in shares of TechnipFMC by 6.2% in the third quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company's stock valued at $266,000 after purchasing an additional 391 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FTI shares. Citigroup raised their price target on TechnipFMC from $48.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Susquehanna raised their price target on TechnipFMC from $82.00 to $83.00 and gave the company a "positive" rating in a research report on Tuesday, April 7th. The Goldman Sachs Group raised their price target on TechnipFMC from $66.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. HSBC downgraded TechnipFMC from a "buy" rating to a "hold" rating and raised their price target for the company from $49.00 to $62.00 in a research report on Friday, February 20th. Finally, Royal Bank Of Canada raised their price target on TechnipFMC from $47.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $61.73.

TechnipFMC Stock Up 0.1%

NYSE FTI opened at $74.86 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The firm has a 50-day simple moving average of $67.94 and a 200 day simple moving average of $54.13. TechnipFMC plc has a twelve month low of $27.23 and a twelve month high of $75.52. The stock has a market cap of $30.06 billion, a PE ratio of 32.41, a PEG ratio of 1.52 and a beta of 0.71.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.19. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter last year, the company earned $0.54 earnings per share. The firm's revenue was up 6.3% on a year-over-year basis. On average, research analysts forecast that TechnipFMC plc will post 2.92 EPS for the current year.

TechnipFMC Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Luana Duffe sold 47,951 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $2,993,580.93. Following the completion of the sale, the executive vice president owned 78,871 shares in the company, valued at approximately $4,923,916.53. This trade represents a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Landes sold 116,194 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the completion of the sale, the insider 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,216,442 shares of company stock valued at $75,762,414 in the last quarter. 1.40% of the stock is currently owned by 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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