TechnipFMC plc $FTI Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services Co. MA cut its stake in TechnipFMC by 11.0% in Q4, selling 1,136,421 shares and now owning 9,237,771 shares (2.28%) valued at about $411.6 million.
• TechnipFMC beat Q4 EPS estimates ($0.70 vs. $0.51) with revenue of $2.52 billion (up 6.3% YoY); the stock has a market cap of roughly $29.7 billion, a P/E near 32, and pays a $0.05 quarterly dividend (0.3% yield).
• Insiders have sold 1,216,442 shares worth about $75.8 million in the last 90 days, while institutional investors hold approximately 96.58% of the company’s stock.

Massachusetts Financial Services Co. MA lowered its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 11.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,237,771 shares of the oil and gas company's stock after selling 1,136,421 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.28% of TechnipFMC worth $411,635,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in FTI. Focus Partners Wealth grew 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 acquiring an additional 5,161 shares during the period. Geneos Wealth Management Inc. boosted its stake in 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. Sivia Capital Partners LLC boosted its stake in TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock worth $508,000 after purchasing an additional 6,381 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in TechnipFMC by 132.5% during 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 purchasing an additional 3,105 shares during the last quarter. Finally, Ossiam boosted its stake in TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 546 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Up 0.5%

Shares of FTI opened at $73.90 on Friday. The firm has a market cap of $29.68 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.71. TechnipFMC plc has a 12-month low of $23.53 and a 12-month high of $74.25. The company's 50-day moving average price is $65.26 and its 200 day moving average price is $51.69. 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 (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.19. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. TechnipFMC's revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. On average, sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, March 17th. TechnipFMC's payout ratio is 8.66%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FTI. UBS Group set a $70.00 target price on shares of TechnipFMC in a research note on Friday, February 20th. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Citigroup lifted their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. HSBC lowered TechnipFMC from a "buy" rating to a "hold" rating and lifted their price target for the stock from $49.00 to $62.00 in a report on Friday, February 20th. Finally, The Goldman Sachs Group lifted their price target on TechnipFMC from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and an average target price of $59.27.

Insider Transactions at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business's stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director directly owned 59,887 shares in the company, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 6,622 shares of the business's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $413,411.46. Following the completion of the sale, the chief accounting officer owned 5,005 shares in the company, valued at approximately $312,462.15. This trade represents a 56.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,216,442 shares of company stock worth $75,762,414 in the last 90 days. Insiders own 1.40% of the company's stock.

TechnipFMC Company 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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