Gabelli Funds LLC Sells 13,068 Shares of TechnipFMC plc $FTI

Gabelli Funds LLC trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 6.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 180,343 shares of the oil and gas company’s stock after selling 13,068 shares during the period. Gabelli Funds LLC’s holdings in TechnipFMC were worth $8,036,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Focus Partners Wealth increased its position in shares of TechnipFMC by 27.2% during the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of 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 worth $35,000 after purchasing an additional 340 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after purchasing an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of TechnipFMC by 132.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock worth $188,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Ossiam increased its position in shares of TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 546 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In related news, CFO Alf Melin sold 83,721 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the transaction, the chief financial officer owned 282,537 shares of the company’s stock, valued at $17,469,262.71. This trade represents a 22.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the transaction, the insider directly owned 71,356 shares in the company, valued at $4,438,343.20. The trade was a 61.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,216,442 shares of company stock worth $75,762,414 over the last ninety days. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FTI shares. Citigroup increased their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Piper Sandler increased their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Evercore restated an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. Finally, Royal Bank Of Canada raised their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average price target of $66.53.

TechnipFMC Stock Up 0.5%

Shares of NYSE:FTI opened at $73.85 on Wednesday. TechnipFMC plc has a one year low of $28.87 and a one year high of $77.78. The company has a 50 day moving average of $70.68 and a 200-day moving average of $57.91. 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 stock has a market cap of $29.45 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 1.48 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company earned $0.33 EPS. TechnipFMC’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that TechnipFMC plc will post 2.95 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is currently 7.63%.

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.