TechnipFMC plc $FTI Stock Position Boosted by Algert Global LLC

Algert Global LLC raised its position in shares of TechnipFMC plc (NYSE:FTI) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 901,349 shares of the oil and gas company’s stock after buying an additional 130,592 shares during the quarter. TechnipFMC comprises about 0.6% of Algert Global LLC’s investment portfolio, making the stock its 7th largest holding. Algert Global LLC owned approximately 0.22% of TechnipFMC worth $35,558,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Focus Partners Wealth increased its position in shares of TechnipFMC by 27.2% during the first 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. boosted its position in shares of TechnipFMC by 45.3% in 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 grew its stake in 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 buying an additional 6,381 shares during the last quarter. Bank of Montreal Can increased its position in TechnipFMC by 10.4% during the 2nd quarter. Bank of Montreal Can now owns 27,126 shares of the oil and gas company’s stock valued at $934,000 after buying an additional 2,557 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in TechnipFMC by 9.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 35,530 shares of the oil and gas company’s stock valued at $1,224,000 after buying an additional 3,069 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Insider Activity at TechnipFMC

In other TechnipFMC news, CFO Alf Melin sold 83,721 shares of the stock in a transaction 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 directly owned 282,537 shares of the company’s stock, valued at $17,469,262.71. This trade represents a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the completion of the sale, the executive vice president owned 119,667 shares in the company, valued at approximately $7,431,320.70. This trade represents a 59.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,210,092 shares of company stock valued at $75,322,232 in the last three months. Company insiders own 1.80% of the company’s stock.

TechnipFMC Stock Up 0.8%

TechnipFMC stock opened at $63.01 on Friday. The business’s 50-day moving average price is $58.39 and its 200 day moving average price is $47.41. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm has a market cap of $25.21 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.16 and a beta of 0.70. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $68.29.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.51 by $0.19. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, sell-side analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC’s payout ratio is presently 8.66%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and raised their price target for the stock from $49.00 to $62.00 in a report on Friday, February 20th. Piper Sandler increased their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. The Goldman Sachs Group boosted their target price on shares of TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Citigroup upped their price target on shares of TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus target price of $58.47.

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.