Kesler Norman & Wride LLC Buys 11,868 Shares of TechnipFMC plc $FTI

Kesler Norman & Wride LLC lifted its stake in shares of TechnipFMC plc (NYSE:FTI) by 51.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 34,891 shares of the oil and gas company’s stock after acquiring an additional 11,868 shares during the period. Kesler Norman & Wride LLC’s holdings in TechnipFMC were worth $1,555,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its stake in TechnipFMC by 8.4% during the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after purchasing an additional 23,600 shares during the period. Savvy Advisors Inc. bought a new stake in shares of TechnipFMC in the third quarter valued at approximately $708,000. Principal Financial Group Inc. boosted its position in shares of TechnipFMC by 5,157.7% in the third quarter. Principal Financial Group Inc. now owns 912,896 shares of the oil and gas company’s stock valued at $36,014,000 after acquiring an additional 895,533 shares during the period. Archford Capital Strategies LLC bought a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $1,691,000. Finally, Danske Bank A S bought a new stake in shares of TechnipFMC in the third quarter valued at approximately $52,848,000. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In other TechnipFMC news, insider Jonathan Landes sold 116,194 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider owned 71,356 shares in the company, valued at approximately $4,438,343.20. This trade represents a 61.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David Light sold 6,622 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $413,411.46. Following the completion of the transaction, the chief accounting officer directly owned 5,005 shares of the company’s stock, valued at approximately $312,462.15. The trade was a 56.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,210,092 shares of company stock worth $75,347,124. 1.40% of the stock is currently owned by corporate insiders.

TechnipFMC Price Performance

Shares of FTI stock opened at $69.42 on Wednesday. The stock has a 50 day moving average of $71.68 and a two-hundred day moving average of $59.65. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 12 month low of $30.86 and a 12 month high of $77.78. The company has a market capitalization of $27.68 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.47 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $0.33 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts expect that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be given a $0.05 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FTI. Evercore reissued an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Citigroup increased their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC 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.