Swiss Life Asset Management Ltd Raises Holdings in TechnipFMC plc $FTI

Swiss Life Asset Management Ltd lifted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 40.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,214 shares of the oil and gas company’s stock after buying an additional 8,382 shares during the period. Swiss Life Asset Management Ltd’s holdings in TechnipFMC were worth $1,302,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC during the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC during the 3rd quarter worth $32,000. Geneos Wealth Management Inc. grew its stake 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 during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC during the 4th quarter worth approximately $41,000. Finally, Torren Management LLC purchased a new stake in shares of TechnipFMC during the 4th quarter worth approximately $45,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TechnipFMC

In related news, CEO Douglas J. Pferdehirt sold 733,424 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.24, for a total value of $45,648,309.76. Following the transaction, the chief executive officer owned 2,411,852 shares in the company, valued at approximately $150,113,668.48. This trade represents a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Landes sold 116,194 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the completion of the transaction, the insider 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 a total of 1,216,442 shares of company stock valued at $75,762,414 in the last three months. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Susquehanna boosted their price target on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research note on Friday, May 1st. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. Barclays upped 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, May 8th. Piper Sandler upped their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

TechnipFMC Price Performance

TechnipFMC stock opened at $71.21 on Friday. TechnipFMC plc has a 1 year low of $28.87 and a 1 year high of $77.78. The firm has a 50 day moving average price of $70.27 and a 200 day moving average price of $57.33. The company has a market cap of $28.39 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. TechnipFMC’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that TechnipFMC plc will post 2.93 earnings per share for the current year.

TechnipFMC Dividend Announcement

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