Williamson Legacy Group LLC Sells 26,953 Shares of TechnipFMC plc $FTI

Key Points

• Williamson Legacy Group LLC cut its TechnipFMC stake by 59.3% in the fourth quarter, selling 26,953 shares and leaving it with 18,509 shares valued at about $825,000.
• TechnipFMC reported strong quarterly results, with EPS of $0.64 topping estimates and revenue rising 11.6% year over year to $2.49 billion, while analysts still expect full-year EPS of 2.98.
• Wall Street remains broadly positive: multiple firms raised price targets, and the stock currently has a Moderate Buy consensus with a target price of $69.00. TechnipFMC also announced a quarterly dividend of $0.05 per share, payable June 3.

Williamson Legacy Group LLC lowered its position in TechnipFMC plc (NYSE:FTI - Free Report) by 59.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,509 shares of the oil and gas company's stock after selling 26,953 shares during the period. Williamson Legacy Group LLC's holdings in TechnipFMC were worth $825,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Harbor Investment Advisory LLC bought a new position in shares of TechnipFMC in the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its stake in shares of 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 valued at $35,000 after acquiring an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TechnipFMC in the fourth quarter valued at approximately $41,000. Finally, Torren Management LLC bought a new position in shares of TechnipFMC in the fourth quarter valued at approximately $45,000. Institutional investors own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Zacks Research cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. The Goldman Sachs Group boosted their price objective on shares of TechnipFMC from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Royal Bank Of Canada boosted their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Finally, Barclays boosted their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Insider Activity at TechnipFMC

In other TechnipFMC news, CAO David Light sold 6,622 shares of the company's stock in a transaction on 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. The trade was a 56.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Landes sold 116,194 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the sale, the insider owned 71,356 shares of the company's stock, valued at $4,438,343.20. The trade was a 61.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,210,092 shares of company stock worth $75,347,124. 1.40% of the stock is owned by company insiders.

TechnipFMC Stock Performance

FTI stock opened at $71.35 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The company has a 50 day moving average price of $71.46 and a 200 day moving average price of $58.95. TechnipFMC plc has a fifty-two week low of $29.62 and a fifty-two week high of $77.78. The stock has a market capitalization of $28.45 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

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

TechnipFMC Announces Dividend

The firm also recently announced 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 is Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC's payout ratio is presently 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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