TechnipFMC plc $FTI Stock Position Lifted by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. increased its stake in TechnipFMC by 8.5% in the fourth quarter, buying 57,570 additional shares and bringing its total to 731,002 shares worth about $32.6 million.
• TechnipFMC reported better-than-expected quarterly earnings of $0.64 per share, topping estimates, while revenue rose 11.6% year over year to $2.49 billion despite coming in slightly below forecasts.
• Analysts remain broadly positive on the stock, with several firms raising price targets and the consensus rating sitting at Moderate Buy with an average target price of $69.71.

Cookson Peirce & Co. Inc. boosted its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 8.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 731,002 shares of the oil and gas company's stock after purchasing an additional 57,570 shares during the period. TechnipFMC comprises approximately 1.3% of Cookson Peirce & Co. Inc.'s holdings, making the stock its 22nd largest position. Cookson Peirce & Co. Inc. owned approximately 0.18% of TechnipFMC worth $32,573,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in TechnipFMC by 34.0% during the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company's stock valued at $525,339,000 after purchasing an additional 3,378,159 shares in the last quarter. State Street Corp grew its position in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock valued at $508,276,000 after purchasing an additional 4,938,498 shares in the last quarter. Boston Partners grew its position in TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company's stock valued at $389,018,000 after purchasing an additional 192,549 shares in the last quarter. Geode Capital Management LLC grew its position in TechnipFMC by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company's stock valued at $337,714,000 after purchasing an additional 193,244 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in TechnipFMC by 184.0% during the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company's stock valued at $189,460,000 after purchasing an additional 3,111,399 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

NYSE FTI opened at $66.76 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $26.62 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. The company has a 50 day moving average price of $71.66 and a two-hundred day moving average price of $60.24. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78.

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

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC's payout ratio is presently 7.63%.

Insiders Place Their Bets

In other news, CAO David Light sold 6,622 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $413,411.46. Following the completion of the sale, the chief accounting officer directly owned 5,005 shares in the company, valued at approximately $312,462.15. The trade was a 56.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alf Melin sold 43,554 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the completion of the sale, the chief financial officer owned 238,983 shares of the company's stock, valued at $15,086,996.79. The trade was a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,210,092 shares of company stock valued at $75,347,124 in the last three months. Company insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FTI. TD Cowen reaffirmed a "buy" rating on shares of TechnipFMC in a research report on Friday, February 20th. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research report on Wednesday. Royal Bank Of Canada lifted 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. Barclays lifted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Piper Sandler lifted their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.71.

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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