Bank of America Corp DE Buys 963,513 Shares of TechnipFMC plc (NYSE:FTI)

Bank of America Corp DE boosted its stake in TechnipFMC plc (NYSE:FTI) by 90.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,026,516 shares of the oil and gas company’s stock after purchasing an additional 963,513 shares during the quarter. Bank of America Corp DE owned approximately 0.48% of TechnipFMC worth $58,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC in the 4th quarter worth about $46,000. Smartleaf Asset Management LLC boosted its position in shares of TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of TechnipFMC during the 4th quarter valued at about $45,000. EverSource Wealth Advisors LLC boosted its position in shares of TechnipFMC by 393.5% during 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 acquiring an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 563 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the transaction, the executive vice president now owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This represents a 23.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the sale, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. The trade was a 57.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock valued at $1,651,665 over the last ninety days. Insiders own 1.80% of the company’s stock.

TechnipFMC Stock Performance

TechnipFMC stock opened at $31.28 on Wednesday. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. The firm has a market cap of $13.11 billion, a P/E ratio of 20.58 and a beta of 0.98. The firm has a 50-day moving average of $27.78 and a 200-day moving average of $29.17. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

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

TechnipFMC Announces Dividend

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 dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. TechnipFMC’s payout ratio is presently 10.53%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Susquehanna dropped their target price on TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Monday, April 28th. Finally, Piper Sandler boosted their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

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.