Point72 Hong Kong Ltd Increases Stock Holdings in TechnipFMC plc (NYSE:FTI)

Point72 Hong Kong Ltd increased its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 76.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,130 shares of the oil and gas company's stock after buying an additional 31,672 shares during the quarter. Point72 Hong Kong Ltd's holdings in TechnipFMC were worth $2,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of TechnipFMC during the fourth quarter valued at $46,000. Smartleaf Asset Management LLC boosted its position in TechnipFMC by 55.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in TechnipFMC in the fourth quarter valued at $45,000. EverSource Wealth Advisors LLC increased its stake in shares of TechnipFMC by 393.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after purchasing an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after buying an additional 563 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the sale, the executive vice president now directly owns 140,207 shares of the company's stock, valued at $3,722,495.85. This trade represents a 23.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares of the company's stock, valued at $187,472.10. This trade represents a 57.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock worth $1,651,665 in the last three months. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Susquehanna cut their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Piper Sandler upped their price target on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada reissued an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Monday, April 28th. Barclays upped their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, StockNews.com downgraded TechnipFMC from a "hold" rating to a "sell" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TechnipFMC presently has an average rating of "Moderate Buy" and an average target price of $36.83.

TechnipFMC Stock Performance

FTI stock traded down $0.15 during trading on Monday, hitting $31.15. The company had a trading volume of 3,685,572 shares, compared to its average volume of 4,016,941. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. The firm has a 50-day moving average price of $28.11 and a 200-day moving average price of $29.30. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm has a market cap of $13.06 billion, a PE ratio of 20.49 and a beta of 0.98.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC's dividend payout ratio is presently 10.53%.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.