Cookson Peirce & Co. Inc. Has $32.57 Million Holdings in TechnipFMC plc $FTI

Cookson Peirce & Co. Inc. boosted its stake in shares of TechnipFMC plc (NYSE:FTI) by 8.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 731,002 shares of the oil and gas company’s stock after buying an additional 57,570 shares during the quarter. TechnipFMC makes up 1.3% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 22nd largest holding. Cookson Peirce & Co. Inc.’s holdings in TechnipFMC were worth $32,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC acquired a new position in TechnipFMC during the 4th quarter valued at $32,000. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. raised its stake in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in TechnipFMC during the 4th quarter valued at $41,000. Finally, Torren Management LLC acquired a new position in TechnipFMC during the 4th quarter valued at $45,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Down 3.3%

Shares of TechnipFMC stock opened at $66.76 on Friday. The firm has a market capitalization of $26.62 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. 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’s fifty day moving average price is $71.66 and its two-hundred day moving average price is $60.24. TechnipFMC plc has a 52-week low of $31.88 and a 52-week high of $77.78.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion for 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 revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. On average, analysts expect that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Alf Melin sold 43,554 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total value of $2,749,564.02. Following the sale, the chief financial officer owned 238,983 shares of the company’s stock, valued at approximately $15,086,996.79. This represents a 15.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Light sold 6,622 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was 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 directly owned 5,005 shares in the company, valued at approximately $312,462.15. The trade was a 56.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,210,092 shares of company stock worth $75,347,124 in the last quarter. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on FTI. BMO Capital Markets upped their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Citigroup upped their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and upped their target price for the company from $49.00 to $62.00 in a research note on Friday, February 20th. Piper Sandler boosted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Susquehanna boosted their price target on shares of TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.71.

About TechnipFMC

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.