TechnipFMC plc $FTI Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC cut its TechnipFMC stake by 81.2% in the second quarter, selling 284,233 shares and retaining 65,686 shares valued at approximately $4.36 million. Institutional investors collectively own 96.58% of FTI.
• TechnipFMC reported quarterly earnings of $0.91 per share on $2.76 billion in revenue, exceeding analyst estimates and representing 9% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.05 per share, while director Eric D. Mullins bought nearly $500,000 worth of stock. Analysts maintain a “Moderate Buy” consensus, with a consensus price target of $69.64.

Algert Global LLC lowered its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 81.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,686 shares of the oil and gas company's stock after selling 284,233 shares during the quarter. Algert Global LLC's holdings in TechnipFMC were worth $4,355,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FTI. V Square Quantitative Management LLC acquired a new stake in shares of TechnipFMC in the first quarter valued at about $26,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its position in shares of TechnipFMC by 45.3% during 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. Ascentis Independent Advisors acquired a new position in shares of TechnipFMC during the 1st quarter worth approximately $37,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of TechnipFMC during the second quarter valued at $37,000. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $76.54 on Friday. The company's fifty day simple moving average is $71.85 and its 200-day simple moving average is $69.82. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.55. The company has a market cap of $30.02 billion, a PE ratio of 26.58, a P/E/G ratio of 1.55 and a beta of 0.72.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts anticipate that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th 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, August 18th. TechnipFMC's dividend payout ratio (DPR) is currently 6.94%.

Insiders Place Their Bets

In related news, Director Eric D. Mullins bought 6,365 shares of the company's stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director owned 8,070 shares of the company's stock, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on FTI shares. Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Evercore reiterated an "outperform" rating and issued a $83.00 price target on shares of TechnipFMC in a report on Friday, May 1st. Citigroup raised their price objective on TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. UBS Group set a $80.00 target price on TechnipFMC in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.64.

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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