TechnipFMC plc $FTI Shares Bought by Ninety One North America Inc.

Key Points

• Ninety One North America Inc. increased its stake in TechnipFMC by 17.9%, acquiring 21,119 shares to hold 139,130 shares valued at about $6.2 million at quarter-end.
• Company insiders sold large positions recently: CFO Alf Melin sold 83,721 shares and CEO Douglas J. Pferdehirt sold 733,424 shares, with insiders offloading a total of 1,216,442 shares worth roughly $75.8 million in the last 90 days.
• TechnipFMC beat quarterly EPS estimates ($0.70 vs. $0.51) while revenue was slightly below consensus, and analysts maintain a Moderate Buy consensus with an average price target of $61.73.

Ninety One North America Inc. lifted its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 17.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,130 shares of the oil and gas company's stock after acquiring an additional 21,119 shares during the period. Ninety One North America Inc.'s holdings in TechnipFMC were worth $6,200,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Personal CFO Solutions LLC boosted its stake in shares of TechnipFMC by 3.0% in the fourth quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company's stock valued at $346,000 after purchasing an additional 225 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 340 shares during the period. True Wealth Design LLC boosted its stake 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 valued at $200,000 after purchasing an additional 357 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of TechnipFMC by 1.5% in the third quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company's stock valued at $948,000 after purchasing an additional 365 shares during the period. Finally, Gries Financial LLC boosted its stake in shares of TechnipFMC by 6.2% in the third quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company's stock valued at $266,000 after purchasing an additional 391 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Trading Down 3.2%

NYSE FTI opened at $70.46 on Friday. TechnipFMC plc has a 12 month low of $24.36 and a 12 month 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 company has a market capitalization of $28.29 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.48 and a beta of 0.71. The company's fifty day moving average price is $66.79 and its two-hundred day moving average price is $52.74.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 EPS for the quarter, beating 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 period in the prior year, the firm posted $0.54 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, March 17th. TechnipFMC's dividend payout ratio is 8.66%.

Insider Activity

In other news, CFO Alf Melin sold 83,721 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $61.83, for a total value of $5,176,469.43. Following the transaction, the chief financial officer directly owned 282,537 shares in the company, valued at approximately $17,469,262.71. This trade represents a 22.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the completion of the transaction, the chief executive officer owned 2,411,852 shares in the company, valued at approximately $150,113,668.48. The trade was a 23.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,216,442 shares of company stock worth $75,762,414 over the last ninety days. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

FTI has been the subject of several analyst reports. Susquehanna upped their target price on shares of TechnipFMC from $82.00 to $83.00 and gave the company a "positive" rating in a research note on Tuesday, April 7th. Weiss Ratings restated a "buy (b)" rating on shares of TechnipFMC in a research note on Thursday, January 22nd. Royal Bank Of Canada upped their target price on shares of TechnipFMC from $47.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. Barclays restated an "overweight" rating and issued a $69.00 target price on shares of TechnipFMC in a research note on Friday, February 20th. Finally, Wall Street Zen downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, TechnipFMC currently has a consensus rating of "Moderate Buy" and an average price target of $61.73.

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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