VIRGINIA RETIREMENT SYSTEMS ET Al Increases Stock Holdings in TechnipFMC plc $FTI

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of TechnipFMC plc (NYSE:FTI) by 97.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 89,179 shares of the oil and gas company’s stock after purchasing an additional 44,050 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in TechnipFMC were worth $3,974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbor Investment Advisory LLC purchased a new position in TechnipFMC during the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new position in TechnipFMC during the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its holdings 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 acquiring an additional 340 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in TechnipFMC during the 4th quarter valued at about $41,000. Finally, Torren Management LLC purchased a new position in TechnipFMC during the 4th quarter valued at about $45,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI opened at $72.93 on Friday. The stock has a 50-day simple moving average of $70.15 and a 200-day simple moving average of $57.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The stock has a market capitalization of $29.08 billion, a PE ratio of 27.83, a PEG ratio of 1.48 and a beta of 0.74. TechnipFMC plc has a 1 year low of $28.87 and a 1 year high of $77.78.

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

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the sale, the director owned 59,887 shares of the company’s stock, valued at approximately $4,151,366.84. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alf Melin sold 43,554 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the sale, the chief financial officer directly owned 238,983 shares in the company, valued at approximately $15,086,996.79. The trade was a 15.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,216,442 shares of company stock valued at $75,762,414 in the last quarter. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Susquehanna lifted their price objective on TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a research note on Friday, May 1st. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. BMO Capital Markets lifted their price objective on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. Finally, Citigroup lifted their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.53.

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.