TechnipFMC plc $FTI Position Increased by Global Retirement Partners LLC

Key Points

• Global Retirement Partners LLC increased its TechnipFMC stake by 313.5% in the fourth quarter, ending with 21,669 shares valued at about $966,000.
• TechnipFMC reported stronger-than-expected quarterly earnings of $0.64 per share, topping estimates, while revenue rose 11.6% year over year to $2.49 billion.
• The company declared a quarterly dividend of $0.05 per share and has recently seen mixed analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $69.00.

Global Retirement Partners LLC boosted its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 313.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,669 shares of the oil and gas company's stock after buying an additional 16,429 shares during the quarter. Global Retirement Partners LLC's holdings in TechnipFMC were worth $966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FTI. Fi3 FINANCIAL ADVISORS LLC acquired a new position in shares of TechnipFMC in the 4th quarter worth $244,000. IFP Advisors Inc lifted its holdings in shares of TechnipFMC by 28.0% during the fourth quarter. IFP Advisors Inc now owns 8,231 shares of the oil and gas company's stock valued at $367,000 after purchasing an additional 1,799 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of TechnipFMC by 23.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 31,497 shares of the oil and gas company's stock valued at $1,404,000 after purchasing an additional 5,900 shares during the period. GSA Capital Partners LLP purchased a new position in TechnipFMC in the 4th quarter worth about $1,187,000. Finally, HighTower Advisors LLC increased its stake in TechnipFMC by 54.7% in the 4th quarter. HighTower Advisors LLC now owns 46,832 shares of the oil and gas company's stock worth $2,087,000 after purchasing an additional 16,562 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Performance

FTI stock opened at $71.09 on Tuesday. The firm has a 50 day simple moving average of $71.29 and a 200 day simple moving average of $58.75. TechnipFMC plc has a 52 week low of $28.89 and a 52 week high of $77.78. The stock has a market cap of $28.35 billion, a P/E ratio of 27.14, a P/E/G ratio of 1.53 and a beta of 0.74. 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 data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion for 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 revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. Research analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC's payout ratio is 7.63%.

Analysts Set New Price Targets

A number of research firms have commented on FTI. Royal Bank Of Canada upped their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. TD Cowen restated a "buy" rating on shares of TechnipFMC in a report on Friday, February 20th. Evercore restated an "outperform" rating and issued a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Barclays raised their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Finally, HSBC cut shares of TechnipFMC from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $49.00 to $62.00 in a research report on Friday, February 20th. One 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. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

Insider Buying and Selling

In related news, CEO Douglas J. Pferdehirt sold 733,424 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.24, for a total value of $45,648,309.76. Following the completion of the sale, the chief executive officer owned 2,411,852 shares of the company's stock, valued at approximately $150,113,668.48. The trade was a 23.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Justin Rounce sold 172,276 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.10, for a total value of $10,698,339.60. Following the completion of the transaction, the executive vice president owned 119,667 shares in the company, valued at $7,431,320.70. This represents a 59.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,216,442 shares of company stock worth $75,762,414. 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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