Faithward Advisors LLC Acquires New Stake in TechnipFMC plc $FTI

Faithward Advisors LLC bought a new stake in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 87,630 shares of the oil and gas company’s stock, valued at approximately $3,457,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of TechnipFMC by 34.0% during 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. State Street Corp grew its holdings in shares of TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after buying an additional 4,938,498 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of TechnipFMC by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock worth $409,262,000 after buying an additional 232,491 shares in the last quarter. Boston Partners raised its position in shares of TechnipFMC by 2.0% in the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after buying an additional 192,549 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of TechnipFMC by 184.0% in the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock valued at $189,460,000 after buying an additional 3,111,399 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FTI has been the topic of a number of analyst reports. Piper Sandler raised their target price on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Susquehanna boosted their price target on TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. Barclays restated an “overweight” rating and set a $69.00 price objective on shares of TechnipFMC in a report on Friday, February 20th. Finally, HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and upped their target price for the company from $49.00 to $62.00 in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.47.

TechnipFMC Stock Performance

Shares of FTI stock opened at $65.24 on Wednesday. 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 firm has a market capitalization of $26.10 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 1.17 and a beta of 0.70. TechnipFMC plc has a one year low of $22.11 and a one year high of $68.29. The company has a 50 day moving average price of $59.04 and a 200 day moving average price of $47.87.

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

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC’s payout ratio is 8.66%.

Insider Activity

In other news, 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 transaction, the insider directly owned 71,356 shares of the company’s stock, valued at $4,438,343.20. The trade was a 61.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Luana Duffe sold 47,951 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $2,993,580.93. Following the sale, the executive vice president owned 78,871 shares of the company’s stock, valued at $4,923,916.53. The trade was a 37.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,210,092 shares of company stock valued at $75,322,232 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

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.