Teachers Retirement System of The State of Kentucky Buys 180,000 Shares of TechnipFMC plc $FTI

Key Points

• Teachers Retirement System of the State of Kentucky increased its stake in TechnipFMC by 38.6%, buying 180,000 shares to hold 645,800 shares (about 0.16% of the company) valued at $28.78 million at quarter end.
• Analysts' consensus rating is a Moderate Buy with a $61.73 price target, while FTI trades near its 52‑week high (~$74.86) and has a $30.06 billion market capitalization.
• Despite roughly 96.58% institutional ownership, company insiders have been net sellers—disposing of 1,216,442 shares worth $75.76 million in the past three months, leaving insiders with about 1.40% ownership.

Teachers Retirement System of The State of Kentucky increased its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 38.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 645,800 shares of the oil and gas company's stock after acquiring an additional 180,000 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.16% of TechnipFMC worth $28,777,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FTI. Blue Trust Inc. increased its position in TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company's stock worth $26,000 after acquiring an additional 657 shares during the period. Harbor Investment Advisory LLC bought a new position in TechnipFMC during the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. increased its position in TechnipFMC by 45.3% during the first 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in TechnipFMC during the fourth quarter worth $41,000. Institutional investors own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of research reports. Zacks Research raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 23rd. Wall Street Zen lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, April 4th. Barclays reaffirmed an "overweight" rating and set a $69.00 target price on shares of TechnipFMC in a research report on Friday, February 20th. BMO Capital Markets boosted their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a "market perform" rating in a research report on Monday, February 23rd. Finally, Piper Sandler lifted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.73.

TechnipFMC Stock Up 3.3%

FTI opened at $74.86 on Friday. TechnipFMC plc has a fifty-two week low of $27.23 and a fifty-two week high of $75.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89. The firm's fifty day moving average price is $67.94 and its two-hundred day moving average price is $54.02. The company has a market capitalization of $30.06 billion, a P/E ratio of 32.41, a P/E/G ratio of 1.47 and a beta of 0.71.

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

TechnipFMC Dividend Announcement

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

Insider Buying and Selling

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company's stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director owned 59,887 shares of the company's stock, valued at approximately $4,151,366.84. This represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Luana Duffe sold 47,951 shares of the stock in a transaction dated 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 sale, the executive vice president owned 78,871 shares of the company's stock, valued at $4,923,916.53. This trade represents a 37.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 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.

About TechnipFMC

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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