TechnipFMC plc $FTI Shares Acquired by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP grew its position in TechnipFMC plc (NYSE:FTI) by 31.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,952,427 shares of the oil and gas company’s stock after purchasing an additional 472,317 shares during the period. Westfield Capital Management Co. LP owned approximately 0.48% of TechnipFMC worth $87,000,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC in the fourth quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC in the third quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC in the fourth quarter worth about $41,000. Torren Management LLC purchased a new stake in shares of TechnipFMC in the fourth quarter worth about $45,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of recent research reports. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and upped their target price for the stock from $49.00 to $62.00 in a research note on Friday, February 20th. Piper Sandler upped their target price on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. UBS Group set a $80.00 target price on TechnipFMC in a research note on Wednesday. Susquehanna upped their target price on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research note on Friday, May 1st. Finally, Evercore restated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.71.

TechnipFMC Stock Performance

Shares of FTI stock opened at $69.11 on Friday. The company has a market capitalization of $27.55 billion, a P/E ratio of 26.38, a P/E/G ratio of 1.46 and a beta of 0.69. The business’s 50 day moving average is $71.74 and its two-hundred day moving average is $60.19. 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 12-month low of $31.64 and a 12-month high of $77.78.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.TechnipFMC’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. Analysts expect that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

Insider Activity at TechnipFMC

In other TechnipFMC news, CFO Alf Melin sold 83,721 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Landes sold 116,194 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.20, for a total value of $7,227,266.80. Following the transaction, the insider owned 71,356 shares in the company, valued at $4,438,343.20. This represents a 61.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,210,092 shares of company stock valued at $75,347,124 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

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.