TechnipFMC plc $FTI Position Cut by Centaurus Financial Inc.

Key Points

• Centaurus Financial cut its TechnipFMC position by 95.7% in the first quarter, selling 35,958 shares and retaining 1,620 shares valued at approximately $112,000. Other major institutions increased their holdings, with institutional investors collectively owning 96.58% of FTI.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $69.64. Recent targets range as high as $85, including Piper Sandler’s increase to $80.
• TechnipFMC reported quarterly EPS of $0.91, beating estimates by $0.11, while revenue rose 9% year over year to $2.76 billion. The company also declared a quarterly dividend of $0.05 per share, representing a 0.3% annualized yield.

Centaurus Financial Inc. decreased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 95.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,620 shares of the oil and gas company's stock after selling 35,958 shares during the quarter. Centaurus Financial Inc.'s holdings in TechnipFMC were worth $112,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. State Street Corp boosted its position in TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock worth $508,276,000 after acquiring an additional 4,938,498 shares during the period. Norges Bank acquired a new position in shares of TechnipFMC during the fourth quarter valued at $205,468,000. Invesco Ltd. increased its holdings in shares of TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company's stock valued at $502,284,000 after purchasing an additional 4,437,960 shares during the period. AQR Capital Management LLC raised its stake in shares of TechnipFMC by 26.7% during the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock valued at $751,567,000 after purchasing an additional 3,549,839 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of TechnipFMC by 46.2% during the third quarter. Northern Trust Corp now owns 3,581,329 shares of the oil and gas company's stock valued at $141,283,000 after purchasing an additional 1,132,216 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FTI shares. Piper Sandler upped 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. Weiss Ratings lowered TechnipFMC from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday. Susquehanna lowered their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. The Goldman Sachs Group reiterated a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Finally, Zacks Research downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.64.

TechnipFMC Stock Up 1.3%

FTI opened at $70.07 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The business has a 50 day moving average price of $69.42 and a 200 day moving average price of $67.36. The firm has a market cap of $27.48 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 1.45 and a beta of 0.72. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $77.92.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. Research analysts forecast that TechnipFMC plc will post 3.02 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is presently 6.94%.

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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