Pacer Advisors Inc. Has $147.45 Million Position in TechnipFMC plc $FTI

Pacer Advisors Inc. lessened its stake in TechnipFMC plc (NYSE:FTI) by 13.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,309,037 shares of the oil and gas company’s stock after selling 528,277 shares during the period. Pacer Advisors Inc. owned about 0.83% of TechnipFMC worth $147,451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FTI. Dorsey Wright & Associates acquired a new position in shares of TechnipFMC in the fourth quarter worth approximately $5,467,000. Compound Planning Inc. increased its position in TechnipFMC by 17.8% during the 4th quarter. Compound Planning Inc. now owns 10,417 shares of the oil and gas company’s stock valued at $464,000 after purchasing an additional 1,573 shares during the period. Invesco Ltd. raised its holdings in TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in TechnipFMC during the 4th quarter worth approximately $358,000. Finally, Corient Private Wealth LLC lifted its position in shares of TechnipFMC by 94.3% in the 4th quarter. Corient Private Wealth LLC now owns 14,228 shares of the oil and gas company’s stock worth $635,000 after purchasing an additional 6,906 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the transaction, the director owned 59,887 shares of the company’s stock, valued at $4,151,366.84. This represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $65.05 on Friday. The company has a market cap of $25.93 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $71.28 and a 200-day moving average of $61.88.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating 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 analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $0.33 EPS. TechnipFMC’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. BMO Capital Markets upped their price target on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Citigroup increased their price target on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

TechnipFMC Company 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.