TechnipFMC plc $FTI Stake Lifted by Todd Asset Management LLC

Key Points

• Todd Asset Management boosted its TechnipFMC stake by 52.2% in Q4, adding 283,129 shares to bring its total to 825,835 shares valued at about $36.8 million.
• Several analysts turned more positive on the stock, with firms like Barclays, Piper Sandler, and Goldman Sachs raising price targets; TechnipFMC now has a consensus Moderate Buy rating and a $69 target price.
• The company reported strong quarterly results, posting $0.64 EPS versus the $0.57 estimate and 11.6% revenue growth year over year, while also announcing a quarterly dividend of $0.05 per share.

Todd Asset Management LLC increased its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 52.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 825,835 shares of the oil and gas company's stock after acquiring an additional 283,129 shares during the period. Todd Asset Management LLC owned approximately 0.20% of TechnipFMC worth $36,800,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FTI. Focus Partners Wealth lifted its position in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock worth $764,000 after purchasing an additional 5,161 shares during the period. Geneos Wealth Management Inc. lifted its position in 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 worth $35,000 after purchasing an additional 340 shares during the period. Sivia Capital Partners LLC lifted its position in TechnipFMC by 76.1% in the second 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 period. Northwestern Mutual Wealth Management Co. lifted its position in TechnipFMC by 132.5% in the second 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 period. Finally, Ossiam lifted its position in TechnipFMC by 52.0% in the second 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 period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FTI shares. Barclays upped their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. TD Cowen restated a "buy" rating on shares of TechnipFMC in a research report on Friday, February 20th. Piper Sandler upped their target price on TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group upped their target price on TechnipFMC from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Finally, BMO Capital Markets upped their target price on TechnipFMC from $52.00 to $67.00 and gave the stock a "market perform" rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, TechnipFMC presently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Insider Activity at TechnipFMC

In other news, EVP Luana Duffe sold 47,951 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the sale, the executive vice president owned 78,871 shares in the company, valued at approximately $4,923,916.53. This represents a 37.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the sale, the director owned 59,887 shares of the company's stock, valued at $4,151,366.84. The trade was a 9.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,216,442 shares of company stock worth $75,762,414. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $71.09 on Monday. TechnipFMC plc has a one year low of $28.89 and a one year high of $77.78. The stock has a fifty day moving average of $71.12 and a 200-day moving average of $58.54. The company has a market capitalization of $28.35 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders 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 is Tuesday, May 19th. TechnipFMC's dividend payout ratio is 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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