TechnipFMC plc $FTI Shares Purchased by Wakefield Asset Management LLLP

Key Points

• Wakefield Asset Management increased its stake in TechnipFMC by 42.4% in Q3, buying 35,041 shares to hold 117,779 shares valued at $4.646 million (about 1.3% of Wakefield's portfolio and its 15th largest position).
• TechnipFMC beat expectations with quarterly EPS of $0.70 vs. $0.51 estimated and revenue of $2.52 billion (up 6.3% YoY), and announced a quarterly dividend of $0.05 per share (annualized $0.20, yield 0.3%, ex-dividend March 17, payable April 1).
• Institutional investors own 96.58% of the stock; the company has a $25.97 billion market cap and a 12‑month high of $68.29, while analysts give a consensus "Moderate Buy" rating with an average target of $58.47 (individual targets raised up to $70).

Wakefield Asset Management LLLP increased its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 42.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,779 shares of the oil and gas company's stock after purchasing an additional 35,041 shares during the period. TechnipFMC accounts for about 1.3% of Wakefield Asset Management LLLP's portfolio, making the stock its 15th largest position. Wakefield Asset Management LLLP's holdings in TechnipFMC were worth $4,646,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in shares of TechnipFMC by 45.3% during the first 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 period. Hantz Financial Services Inc. increased its position in shares of TechnipFMC by 1.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company's stock valued at $948,000 after acquiring an additional 365 shares during the period. Gries Financial LLC raised its stake in TechnipFMC by 6.2% in the 3rd quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company's stock worth $266,000 after acquiring an additional 391 shares during the last quarter. SG Americas Securities LLC lifted its position in TechnipFMC by 2.9% during the 3rd quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company's stock worth $572,000 after acquiring an additional 408 shares during the period. Finally, Quadcap Wealth Management LLC grew its stake in TechnipFMC by 3.3% during the 2nd quarter. Quadcap Wealth Management LLC now owns 16,256 shares of the oil and gas company's stock valued at $560,000 after purchasing an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

NYSE FTI opened at $64.92 on Wednesday. The stock has a market capitalization of $25.97 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.17 and a beta of 0.70. The stock has a 50-day moving average of $57.32 and a 200 day moving average of $46.91. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $68.29.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. 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 return on equity of 31.14% and a net margin of 9.70%.The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The business's revenue was up 6.3% compared to the same quarter last year. Sell-side analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC's dividend payout ratio (DPR) is presently 8.66%.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 6,350 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the sale, the director owned 97,860 shares of the company's stock, valued at $6,400,044. The trade was a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FTI shares. Piper Sandler upped their target price on TechnipFMC from $49.00 to $52.00 and gave the company an "overweight" rating in a research report on Thursday, December 18th. BMO Capital Markets lifted their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the company a "market perform" rating in a research note on Monday, February 23rd. Royal Bank Of Canada upped their price objective on shares of TechnipFMC from $47.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, February 20th. Zacks Research raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Friday, January 23rd. Finally, The Goldman Sachs Group upped their price target on shares of TechnipFMC from $55.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $58.47.

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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