Vanguard Group Inc. Sells 803,488 Shares of TechnipFMC plc $FTI

Key Points

• Vanguard Group Inc. sold 803,488 shares (a 2.0% reduction) and still holds 39,000,862 shares—about a 9.64% stake in TechnipFMC valued at roughly $1.74 billion.
• Company insiders have been net sellers recently: CEO Douglas J. Pferdehirt sold 733,424 shares (≈$45.6M) and insiders disposed of 1,216,442 shares totaling about $75.76 million over the past three months.
• TechnipFMC posted an EPS beat (Q: $0.70 vs. $0.51 est.) with revenue of $2.52B (slightly below estimates) and announced a quarterly dividend of $0.05 per share (annualized yield ~0.3%).

Vanguard Group Inc. lessened its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,000,862 shares of the oil and gas company's stock after selling 803,488 shares during the period. Vanguard Group Inc. owned approximately 9.64% of TechnipFMC worth $1,737,878,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. AQR Capital Management LLC lifted its holdings in shares of TechnipFMC by 34.0% during the 3rd 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 lifted its holdings in shares of TechnipFMC by 62.2% during the 3rd 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. Massachusetts Financial Services Co. MA lifted its holdings in shares of TechnipFMC by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company's stock valued at $409,262,000 after purchasing an additional 232,491 shares in the last quarter. Boston Partners lifted its holdings in shares of TechnipFMC by 2.0% during the 3rd 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. Finally, Alliancebernstein L.P. lifted its holdings in shares of TechnipFMC by 184.0% during the 3rd 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. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Up 2.1%

NYSE:FTI opened at $77.06 on Thursday. The firm has a market capitalization of $30.95 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 1.53 and a beta of 0.71. TechnipFMC plc has a twelve month low of $27.70 and a twelve month high of $77.10. The stock's 50 day moving average price is $68.80 and its two-hundred day moving average price is $54.84. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, topping 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 return on equity of 31.14% and a net margin of 9.70%.The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 EPS. Equities research analysts expect that TechnipFMC plc will post 2.92 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC's payout ratio is 8.66%.

Insider Activity

In other TechnipFMC news, EVP Luana Duffe sold 47,951 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 78,871 shares of the company's stock, valued at $4,923,916.53. The trade was a 37.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.24, for a total value of $45,648,309.76. Following the transaction, the chief executive officer directly owned 2,411,852 shares in the company, valued at $150,113,668.48. This trade represents a 23.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,216,442 shares of company stock worth $75,762,414. Corporate insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

FTI has been the topic of a number of recent research reports. Piper Sandler lifted their target price on TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Susquehanna lifted their target price on TechnipFMC from $82.00 to $83.00 and gave the company a "positive" rating in a research report on Tuesday, April 7th. Weiss Ratings lowered TechnipFMC from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, April 21st. Citigroup lifted their target price on TechnipFMC from $48.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Finally, Barclays reissued an "overweight" rating and issued a $69.00 target price on shares of TechnipFMC in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.73.

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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