TechnipFMC plc $FTI Shares Bought by Franklin Resources Inc.

Key Points

• Franklin Resources increased its stake in TechnipFMC by 9.6% in the fourth quarter, buying 216,227 additional shares and bringing its total holdings to 2.47 million shares valued at about $110 million.
• Several other institutional investors also added to their TechnipFMC positions, and hedge funds and institutions now own 96.58% of the company’s stock.
• TechnipFMC recently beat earnings expectations with Q1 EPS of $0.64 versus the $0.57 estimate, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $69.71.

Franklin Resources Inc. lifted its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 9.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,469,329 shares of the oil and gas company's stock after purchasing an additional 216,227 shares during the period. Franklin Resources Inc. owned about 0.61% of TechnipFMC worth $109,953,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Independent Advisor Alliance grew its stake in shares of TechnipFMC by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company's stock worth $2,730,000 after purchasing an additional 184 shares during the last quarter. Personal CFO Solutions LLC grew its stake in shares of TechnipFMC by 3.0% in the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company's stock worth $346,000 after purchasing an additional 225 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of TechnipFMC by 5.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company's stock worth $235,000 after purchasing an additional 262 shares during the last quarter. Geneos Wealth Management Inc. grew its stake 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 purchasing an additional 340 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings 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 worth $200,000 after buying an additional 357 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the transaction, the director owned 59,887 shares of the company's stock, valued at $4,151,366.84. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FTI has been the subject of several recent analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Barclays raised their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Piper Sandler raised their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Zacks Research cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, HSBC cut shares of TechnipFMC from a "buy" rating to a "hold" rating and raised their target price for the stock from $49.00 to $62.00 in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.71.

TechnipFMC Stock Performance

FTI stock opened at $70.13 on Thursday. The stock has a market cap of $27.96 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.47 and a beta of 0.69. The firm has a 50 day simple moving average of $71.62 and a 200 day simple moving average of $60.89. 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 plc has a 52 week low of $31.88 and a 52 week high of $77.78.

TechnipFMC (NYSE:FTI - Get Free Report) last issued 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. 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 declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is currently 7.63%.

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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