Exchange Traded Concepts LLC Acquires 10,449 Shares of TechnipFMC plc $FTI

Exchange Traded Concepts LLC boosted its holdings in TechnipFMC plc (NYSE:FTI) by 18.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,973 shares of the oil and gas company’s stock after buying an additional 10,449 shares during the quarter. Exchange Traded Concepts LLC’s holdings in TechnipFMC were worth $2,984,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC boosted its position in TechnipFMC by 38.0% in the third quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock valued at $7,243,000 after buying an additional 50,593 shares in the last quarter. Lingohr Asset Management GmbH increased its holdings in shares of TechnipFMC by 461.7% during the third quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock worth $8,375,000 after buying an additional 174,500 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of TechnipFMC by 80.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after acquiring an additional 1,415,621 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of TechnipFMC by 25,468.9% in the 3rd quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock valued at $454,000 after acquiring an additional 11,461 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of TechnipFMC by 8.4% during the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after acquiring an additional 23,600 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

TechnipFMC stock opened at $69.04 on Wednesday. The stock has a market capitalization of $27.72 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 1.25 and a beta of 0.70. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $72.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The stock’s 50 day moving average price is $62.52 and its two-hundred day moving average price is $49.93.

TechnipFMC (NYSE:FTI) last released its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. TechnipFMC’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 EPS. On average, equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FTI shares. Susquehanna upped their target price on TechnipFMC from $71.00 to $82.00 and gave the stock a “positive” rating in a report on Wednesday, March 25th. Piper Sandler lifted their price target on TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. The Goldman Sachs Group upped their price objective on TechnipFMC from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. BMO Capital Markets lifted their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. 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 report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.20.

Insiders Place Their Bets

In other news, insider Jonathan Landes sold 116,194 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the completion of the sale, the insider owned 71,356 shares in the company, valued at $4,438,343.20. The trade was a 61.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alf Melin sold 83,721 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $61.83, for a total value of $5,176,469.43. Following the completion of the transaction, the chief financial officer owned 282,537 shares in the company, valued at approximately $17,469,262.71. This represents a 22.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is currently owned by corporate insiders.

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.