TechnipFMC plc $FTI Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in TechnipFMC by 2.6% in the fourth quarter, ending with 7.58 million shares valued at about $337.7 million. Institutional investors still hold a very large majority of the stock, at 96.58%.
• TechnipFMC reported better-than-expected quarterly earnings of $0.64 per share versus the $0.57 consensus, while revenue rose 11.6% year over year to $2.49 billion. Analysts currently rate the stock a Moderate Buy with an average price target of $69.
• The company declared a quarterly dividend of $0.05 per share, payable June 3, and the stock recently traded near $68.21, below its 52-week high of $77.78. Insider selling has also been notable, with executives selling more than 1.2 million shares over the last three months.

Geode Capital Management LLC grew its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,577,261 shares of the oil and gas company's stock after purchasing an additional 193,244 shares during the quarter. Geode Capital Management LLC owned approximately 1.87% of TechnipFMC worth $337,714,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Harbor Investment Advisory LLC bought a new position in shares of TechnipFMC in the 4th quarter worth about $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. lifted its position in shares of TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after buying an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TechnipFMC in the 4th quarter worth about $41,000. Finally, Torren Management LLC bought a new position in shares of TechnipFMC in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FTI. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. UBS Group set a $70.00 price target on shares of TechnipFMC in a research report on Friday, February 20th. HSBC downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating and raised their price target for the stock from $49.00 to $62.00 in a research report on Friday, February 20th. Jefferies Financial Group restated a "buy" rating on shares of TechnipFMC in a research report on Sunday. Finally, Zacks Research downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.00.

TechnipFMC Stock Down 0.3%

FTI stock opened at $68.21 on Tuesday. TechnipFMC plc has a 52 week low of $30.86 and a 52 week high of $77.78. The company has a market capitalization of $27.19 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.47 and a beta of 0.69. The firm's 50-day moving average is $71.68 and its two-hundred day moving average is $59.65. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

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, topping analysts' consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $0.33 EPS. TechnipFMC's revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Luana Duffe sold 47,951 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 78,871 shares in the company, valued at $4,923,916.53. The trade was a 37.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alf Melin sold 43,554 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the completion of the sale, the chief financial officer owned 238,983 shares in the company, valued at $15,086,996.79. The trade was a 15.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,210,092 shares of company stock worth $75,347,124. Company insiders own 1.40% of the company's stock.

TechnipFMC Company 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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