Pinnbrook Capital Management LP Sells 52,774 Shares of TechnipFMC plc $FTI

Pinnbrook Capital Management LP reduced its position in shares of TechnipFMC plc (NYSE:FTI) by 45.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,559 shares of the oil and gas company’s stock after selling 52,774 shares during the period. Pinnbrook Capital Management LP’s holdings in TechnipFMC were worth $2,468,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 657 shares in the last quarter. Geneos Wealth Management Inc. raised its position in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the last quarter. Huntington National Bank boosted its stake in TechnipFMC by 317.8% in the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 909 shares in the last quarter. McIlrath & Eck LLC grew its holdings in shares of TechnipFMC by 476.3% during the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,024 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of TechnipFMC in the third quarter valued at about $51,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and raised their price target for the company from $49.00 to $62.00 in a report on Friday, February 20th. Barclays reiterated an “overweight” rating and issued a $69.00 price objective on shares of TechnipFMC in a research report on Friday, February 20th. Piper Sandler boosted their target price on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Finally, TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.47.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $63.01 on Friday. The firm has a fifty day moving average of $58.39 and a two-hundred day moving average of $47.33. 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 has a market capitalization of $25.21 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.15 and a beta of 0.70. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $68.29.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 8.66%.

Insider Activity

In other news, EVP Justin Rounce sold 172,276 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.10, for a total value of $10,698,339.60. Following the completion of the transaction, the executive vice president owned 119,667 shares of the company’s stock, valued at $7,431,320.70. The trade was a 59.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Landes sold 116,194 shares of the firm’s stock in a transaction 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 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,210,092 shares of company stock valued at $75,322,232. 1.80% of the stock is currently owned by company insiders.

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.