TechnipFMC plc $FTI Stock Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in TechnipFMC plc (NYSE:FTI) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,577,261 shares of the oil and gas company’s stock after acquiring an additional 193,244 shares during the period. Geode Capital Management LLC’s holdings in TechnipFMC were worth $337,714,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of TechnipFMC by 34.0% in the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after acquiring an additional 3,378,159 shares in the last quarter. State Street Corp grew its position in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares in the last quarter. Boston Partners grew its position in TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after purchasing an additional 192,549 shares in the last quarter. Alliancebernstein L.P. grew its position in TechnipFMC by 184.0% during the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock valued at $189,460,000 after purchasing an additional 3,111,399 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in TechnipFMC by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,763,630 shares of the oil and gas company’s stock valued at $187,942,000 after purchasing an additional 137,507 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FTI has been the topic of a number of research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and boosted their price objective for the company from $49.00 to $62.00 in a research report on Friday, February 20th. Barclays boosted their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup boosted their price objective 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. Finally, Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $69.00.

Insiders Place Their Bets

In related news, CFO Alf Melin sold 43,554 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the completion of the transaction, the chief financial officer directly owned 238,983 shares in the company, valued at $15,086,996.79. This represents a 15.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David Light sold 6,622 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $413,411.46. Following the transaction, the chief accounting officer owned 5,005 shares of the company’s stock, valued at approximately $312,462.15. The trade was a 56.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,210,092 shares of company stock valued at $75,347,124 in the last three months. Company insiders own 1.40% of the company’s stock.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $68.21 on Tuesday. The firm has a fifty day simple moving average of $71.68 and a 200-day simple moving average of $59.65. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 1-year low of $30.86 and a 1-year high of $77.78. The stock has a market capitalization of $27.19 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.47 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping 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 business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the company earned $0.33 earnings per share. TechnipFMC’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

TechnipFMC Company 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.