Prudential PLC Purchases 191,166 Shares of TechnipFMC plc $FTI

Prudential PLC boosted its position in shares of TechnipFMC plc (NYSE:FTI) by 531.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 227,143 shares of the oil and gas company’s stock after purchasing an additional 191,166 shares during the quarter. Prudential PLC owned about 0.06% of TechnipFMC worth $10,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTI. Focus Partners Wealth raised its holdings in TechnipFMC by 27.2% during the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after purchasing an additional 6,381 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in TechnipFMC by 132.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock worth $188,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Ossiam raised its holdings in TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 546 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

Shares of FTI opened at $66.76 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The stock has a 50 day simple moving average of $71.66 and a 200 day simple moving average of $60.24. TechnipFMC plc has a 52-week low of $31.88 and a 52-week high of $77.78. The firm has a market capitalization of $26.62 billion, a PE ratio of 25.48, a P/E/G ratio of 1.48 and a beta of 0.69.

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

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were 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 of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Analyst Ratings Changes

Several analysts have weighed in on FTI shares. UBS Group set a $80.00 price objective on TechnipFMC in a report on Wednesday. Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a report on Friday, May 1st. Citigroup boosted their target price on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target of $69.71.

Insider Buying and Selling

In other news, EVP Luana Duffe sold 47,951 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $2,993,580.93. Following the sale, the executive vice president directly owned 78,871 shares in the company, valued at $4,923,916.53. This trade represents a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alf Melin sold 43,554 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 238,983 shares in the company, valued at approximately $15,086,996.79. This represents a 15.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,210,092 shares of company stock valued at $75,347,124 over the last ninety days. Insiders own 1.40% of the company’s stock.

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.