TechnipFMC (NYSE:FTI) Insider Sells $431,100.00 in Stock

Key Points

• TechnipFMC insider Thierry Conti sold 6,000 shares for approximately $431,100 at an average price of $71.85, reducing his holdings by 6.54% to 85,813 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• FTI recently reported better-than-expected quarterly results, with EPS of $0.91 versus the $0.80 consensus estimate and revenue of $2.76 billion, up 9% year over year.
• Analysts maintain a “Moderate Buy” consensus, although the $70 average price target is below the stock’s reported trading price. Institutional investors and hedge funds own 96.58% of the company’s shares.

TechnipFMC plc (NYSE:FTI - Get Free Report) insider Thierry Conti sold 6,000 shares of the company's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TechnipFMC Stock Performance

NYSE FTI traded up $0.45 on Wednesday, hitting $71.27. 2,202,197 shares of the company's stock traded hands, compared to its average volume of 4,051,663. The firm's 50-day moving average price is $74.78 and its two-hundred day moving average price is $71.40. The firm has a market capitalization of $27.95 billion, a PE ratio of 24.75, a P/E/G ratio of 1.42 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.70.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same quarter last year, the company posted $0.68 earnings per share. The firm's revenue was up 9.0% compared to the same quarter last year. As a group, analysts expect that TechnipFMC plc will post 3.17 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC's dividend payout ratio (DPR) is currently 6.94%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FTI. The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Citigroup boosted their price target on shares of TechnipFMC from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, September 15th. Jefferies Financial Group restated a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Weiss Ratings raised shares of TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.00.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds have recently added to or reduced their stakes in the business. Focus Partners Advisor Solutions LLC purchased a new position in shares of TechnipFMC in the 2nd quarter worth $3,470,000. Chase Investment Counsel Corp purchased a new stake in TechnipFMC during the second quarter valued at about $12,397,000. Globeflex Capital L P purchased a new stake in TechnipFMC during the second quarter valued at about $1,011,000. Proficio Capital Partners LLC acquired a new stake in TechnipFMC during the second quarter worth about $1,301,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of TechnipFMC in the 2nd quarter worth about $8,407,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Company Profile

TechnipFMC plc NYSE: FTI is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.

The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.

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