TechnipFMC plc $FTI Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al nearly doubled its TechnipFMC stake in the fourth quarter, buying 44,050 additional shares to reach 89,179 shares worth about $3.97 million.
• TechnipFMC reported strong first-quarter results, with EPS of $0.64 beating estimates of $0.57 and revenue rising 11.6% year over year to $2.49 billion.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $66.53, though insider selling has been notable in recent months.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in TechnipFMC plc (NYSE:FTI - Free Report) by 97.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,179 shares of the oil and gas company's stock after purchasing an additional 44,050 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in TechnipFMC were worth $3,974,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FTI. Focus Partners Wealth raised its stake in TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock valued at $764,000 after purchasing an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. increased 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 acquiring an additional 340 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of TechnipFMC by 76.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock worth $508,000 after acquiring an additional 6,381 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of TechnipFMC by 132.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company's stock worth $188,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Ossiam increased its stake in shares of TechnipFMC by 52.0% in the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock worth $55,000 after acquiring an additional 546 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jonathan Landes sold 116,194 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the completion of the sale, the insider directly owned 71,356 shares of the company's stock, valued at approximately $4,438,343.20. This trade represents a 61.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David Light sold 6,622 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $413,411.46. Following the sale, the chief accounting officer directly owned 5,005 shares of the company's stock, valued at $312,462.15. The trade was a 56.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,216,442 shares of company stock worth $75,762,414. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FTI. Weiss Ratings raised TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada raised their target price on TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Zacks Research downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Citigroup raised their target price on TechnipFMC from $48.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Finally, TD Cowen reaffirmed a "buy" rating on shares of TechnipFMC in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of "Moderate Buy" and an average price target of $66.53.

TechnipFMC Stock Up 0.3%

Shares of NYSE:FTI opened at $72.93 on Friday. The business has a 50-day moving average price of $70.15 and a 200 day moving average price of $57.24. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $29.08 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.48 and a beta of 0.74. TechnipFMC plc has a 12-month low of $28.87 and a 12-month 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.33 EPS. Sell-side analysts expect that TechnipFMC plc will post 2.93 EPS for the current year.

TechnipFMC Dividend Announcement

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

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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