Fisher Asset Management LLC Raises Stake in TechnipFMC plc $FTI

Fisher Asset Management LLC lifted its position in shares of TechnipFMC plc (NYSE:FTI) by 7.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 408,437 shares of the oil and gas company’s stock after buying an additional 27,111 shares during the quarter. Fisher Asset Management LLC’s holdings in TechnipFMC were worth $18,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FTI. State Street Corp grew its holdings in shares of 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 worth $508,276,000 after buying an additional 4,938,498 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of TechnipFMC by 34.0% during 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 buying an additional 3,378,159 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of 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 worth $189,460,000 after buying an additional 3,111,399 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TechnipFMC by 80.6% during the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after buying an additional 1,415,621 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in TechnipFMC in the third quarter valued at approximately $52,848,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TechnipFMC

In other TechnipFMC news, insider Jonathan Landes sold 116,194 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were 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 directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alf Melin sold 43,554 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the sale, the chief financial officer owned 238,983 shares of the company’s stock, valued at approximately $15,086,996.79. This represents a 15.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,210,092 shares of company stock valued at $75,347,124 over the last quarter. Company insiders own 1.40% of the company’s stock.

TechnipFMC Price Performance

TechnipFMC stock opened at $67.34 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC plc has a 1 year low of $30.13 and a 1 year high of $77.78. The firm has a 50 day moving average price of $71.53 and a 200 day moving average price of $59.13. The company has a market cap of $26.85 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.53 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. TechnipFMC’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts predict that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of recent analyst reports. Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Evercore restated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a report on Friday, May 1st. TD Cowen restated a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, UBS Group set a $70.00 target price on shares of TechnipFMC in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

About TechnipFMC

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.