WINTON GROUP Ltd Acquires Shares of 175,965 TechnipFMC plc $FTI

WINTON GROUP Ltd acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 175,965 shares of the oil and gas company’s stock, valued at approximately $7,841,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FTI. State Street Corp raised its position in shares of TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after purchasing an additional 4,938,498 shares during the last quarter. Norges Bank purchased a new position in shares of TechnipFMC in the 4th quarter worth about $205,468,000. AQR Capital Management LLC raised its position in shares of TechnipFMC by 34.0% in the 3rd quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after purchasing an additional 3,378,159 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of TechnipFMC by 184.0% in the 3rd quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock worth $189,460,000 after purchasing an additional 3,111,399 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of TechnipFMC in the 3rd quarter worth about $52,848,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FTI shares. BMO Capital Markets lifted their price target on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. Evercore reaffirmed an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Citigroup lifted their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Susquehanna lifted their price target on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.71.

Insider Buying and Selling

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value 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. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction dated 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 completion of 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 SEC filing for this sale provides additional information. Insiders sold 1,210,092 shares of company stock worth $75,347,124 in the last three months. 1.40% of the stock is currently owned by company insiders.

TechnipFMC Price Performance

NYSE FTI opened at $66.76 on Friday. TechnipFMC plc has a one year low of $31.88 and a one year high of $77.78. The stock has a 50-day moving average of $71.66 and a 200 day moving average of $60.24. The company has a market capitalization of $26.62 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.48 and a beta of 0.69. 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 (NYSE:FTI) last released 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 return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $0.33 EPS. TechnipFMC’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts forecast that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

TechnipFMC 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.