Pinnbrook Capital Management LP Trims Stake in TechnipFMC plc $FTI

Pinnbrook Capital Management LP cut its stake in shares of TechnipFMC plc (NYSE:FTI) by 26.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 45,816 shares of the oil and gas company’s stock after selling 16,743 shares during the quarter. Pinnbrook Capital Management LP’s holdings in TechnipFMC were worth $2,042,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Global Retirement Partners LLC increased its position in shares of TechnipFMC by 313.5% during the fourth quarter. Global Retirement Partners LLC now owns 21,669 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 16,429 shares during the period. Fi3 FINANCIAL ADVISORS LLC purchased a new position in shares of TechnipFMC during the fourth quarter worth approximately $244,000. IFP Advisors Inc increased its position in shares of TechnipFMC by 28.0% during the fourth quarter. IFP Advisors Inc now owns 8,231 shares of the oil and gas company’s stock worth $367,000 after acquiring an additional 1,799 shares during the period. PNC Financial Services Group Inc. increased its position in shares of TechnipFMC by 23.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 31,497 shares of the oil and gas company’s stock worth $1,404,000 after acquiring an additional 5,900 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of TechnipFMC during the fourth quarter worth approximately $1,187,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of FTI opened at $71.45 on Friday. The company has a market cap of $28.49 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.56 and a beta of 0.74. TechnipFMC plc has a twelve month low of $28.87 and a twelve month high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $70.98 and a two-hundred day moving average of $58.34.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 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 business 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 posted $0.33 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts predict that TechnipFMC plc will post 2.96 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business 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 dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, May 19th. TechnipFMC’s payout ratio is presently 7.63%.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director directly owned 59,887 shares in the company, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the sale, the insider owned 71,356 shares of the company’s stock, valued at $4,438,343.20. The trade was a 61.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,216,442 shares of company stock valued at $75,762,414. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FTI. Susquehanna raised their target price on shares of TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research report on Friday, May 1st. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Barclays raised their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Piper Sandler raised their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Citigroup raised their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

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.