Ethic Inc. Boosts Stock Holdings in TechnipFMC plc $FTI

Ethic Inc. boosted its position in TechnipFMC plc (NYSE:FTI) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 104,956 shares of the oil and gas company’s stock after purchasing an additional 10,231 shares during the period. Ethic Inc.’s holdings in TechnipFMC were worth $4,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. MGO One Seven LLC lifted its position in shares of TechnipFMC by 4.3% during the 4th quarter. MGO One Seven LLC now owns 24,399 shares of the oil and gas company’s stock valued at $1,087,000 after buying an additional 1,006 shares during the last quarter. Allegiance Financial Group Advisory Services LLC increased its holdings in TechnipFMC by 42.4% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 7,774 shares of the oil and gas company’s stock worth $346,000 after acquiring an additional 2,314 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in TechnipFMC by 101.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 21,215 shares of the oil and gas company’s stock valued at $945,000 after acquiring an additional 10,700 shares during the period. Praxis Investment Management Inc. bought a new stake in TechnipFMC in the 4th quarter valued at about $493,000. Finally, Navellier & Associates Inc. lifted its holdings in TechnipFMC by 0.5% during the fourth quarter. Navellier & Associates Inc. now owns 89,564 shares of the oil and gas company’s stock valued at $3,991,000 after purchasing an additional 432 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FTI. The Goldman Sachs Group increased their target price 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 upped their price target 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. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays lifted their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday. Finally, BMO Capital Markets boosted their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

TechnipFMC Trading Up 0.0%

Shares of FTI opened at $70.18 on Monday. The business’s 50-day moving average price is $69.62 and its 200-day moving average price is $56.04. TechnipFMC plc has a twelve month low of $28.87 and a twelve month high of $77.78. The stock has a market cap of $27.98 billion, a PE ratio of 26.79, a P/E/G ratio of 1.42 and a beta of 0.74. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company 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%. TechnipFMC’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. On average, equities analysts forecast that TechnipFMC plc will post 2.93 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

Insider Activity

In related news, CFO Alf Melin sold 83,721 shares of TechnipFMC stock in a transaction on Monday, March 9th. The stock was sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the completion of the sale, the chief financial officer owned 282,537 shares of the company’s stock, valued at approximately $17,469,262.71. This trade represents a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Luana Duffe sold 47,951 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $2,993,580.93. Following the transaction, the executive vice president owned 78,871 shares of the company’s stock, valued at approximately $4,923,916.53. The trade was a 37.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,216,442 shares of company stock worth $75,762,414. Company insiders own 1.40% of the company’s stock.

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.