Fisher Asset Management LLC Decreases Position in TechnipFMC plc $FTI

Fisher Asset Management LLC decreased its position in TechnipFMC plc (NYSE:FTI) by 21.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 320,970 shares of the oil and gas company’s stock after selling 88,353 shares during the period. Fisher Asset Management LLC owned about 0.08% of TechnipFMC worth $11,054,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FTI. Credit Agricole S A lifted its position in shares of TechnipFMC by 170.3% during the first quarter. Credit Agricole S A now owns 94,097 shares of the oil and gas company’s stock worth $2,982,000 after acquiring an additional 59,281 shares in the last quarter. OMNI 360 Wealth Inc. purchased a new stake in TechnipFMC during the 2nd quarter worth about $226,000. Charles Schwab Investment Management Inc. boosted its stake in TechnipFMC by 3.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,761,185 shares of the oil and gas company’s stock worth $119,192,000 after purchasing an additional 111,644 shares during the period. Entropy Technologies LP purchased a new position in TechnipFMC during the 1st quarter valued at about $1,056,000. Finally, Raymond James Financial Inc. increased its position in shares of TechnipFMC by 26.2% during the first quarter. Raymond James Financial Inc. now owns 399,126 shares of the oil and gas company’s stock valued at $12,648,000 after buying an additional 82,902 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Up 3.0%

FTI opened at $46.68 on Thursday. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $46.70. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $40.96 and its 200-day moving average price is $37.17. The company has a market cap of $18.88 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.08 and a beta of 0.68.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the company earned $0.64 EPS. TechnipFMC’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Tuesday, November 18th. TechnipFMC’s dividend payout ratio is currently 8.93%.

TechnipFMC announced that its Board of Directors has authorized a share buyback program on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 13.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at TechnipFMC

In other news, CEO Douglas J. Pferdehirt sold 80,304 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.35, for a total transaction of $3,079,658.40. 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 113,760 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.61, for a total value of $4,392,273.60. Following the transaction, the chief financial officer owned 241,140 shares in the company, valued at approximately $9,310,415.40. This represents a 32.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 876,603 shares of company stock valued at $33,832,588 in the last quarter. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of analyst reports. BNP Paribas Exane upgraded shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price objective for the company in a research report on Friday, October 10th. UBS Group reissued an “outperform” rating on shares of TechnipFMC in a report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their price target on shares of TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. BNP Paribas set a $47.00 price objective on TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

TechnipFMC Company 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.