TechnipFMC plc $FTI Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama raised its holdings in TechnipFMC plc (NYSE:FTI) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 465,796 shares of the oil and gas company’s stock after acquiring an additional 26,025 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of TechnipFMC worth $31,637,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Focus Partners Advisor Solutions LLC bought a new position in TechnipFMC during the 2nd quarter worth $3,470,000. Chase Investment Counsel Corp acquired a new position in TechnipFMC during the 2nd quarter worth about $12,397,000. Globeflex Capital L P bought a new stake in shares of TechnipFMC in the 2nd quarter valued at about $1,011,000. Proficio Capital Partners LLC bought a new stake in shares of TechnipFMC in the 2nd quarter valued at about $1,301,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of TechnipFMC in the 2nd quarter valued at about $2,337,000. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

FTI has been the subject of several recent research reports. Weiss Ratings cut TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Barclays lifted their price objective on TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. UBS Group assumed coverage on TechnipFMC in a research note on Monday, October 12th. They issued a “buy” rating and a $89.00 price objective on the stock. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $78.18.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $64.54 on Wednesday. The company has a market capitalization of $25.10 billion, a PE ratio of 20.30, a P/E/G ratio of 0.99 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a twelve month low of $42.46 and a twelve month high of $80.70. The firm has a fifty day simple moving average of $70.66 and a 200 day simple moving average of $69.41.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that TechnipFMC plc will post 3.31 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th 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 of this dividend is Tuesday, November 17th. TechnipFMC’s payout ratio is currently 6.29%.

Insider Transactions at TechnipFMC

In related news, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the sale, the insider owned 85,813 shares in the company, valued at $6,165,664.05. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins bought 6,365 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.40% of the stock is owned by insiders.

TechnipFMC Profile

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services. Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.