TechnipFMC plc (NYSE:FTI) CAO David Light Sells 5,928 Shares

TechnipFMC plc (NYSE:FTI) CAO David Light sold 5,928 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the sale, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at $297,692.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $25.93 on Friday. TechnipFMC plc has a 12 month low of $15.71 and a 12 month high of $27.30. The stock has a market cap of $11.17 billion, a P/E ratio of 55.16 and a beta of 1.58. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $25.65 and a 200 day moving average of $23.02.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. TechnipFMC’s revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.18 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st were issued a $0.05 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. TechnipFMC’s payout ratio is 42.55%.

Analysts Set New Price Targets

A number of research firms have weighed in on FTI. Piper Sandler raised their price objective on shares of TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. Susquehanna raised their price target on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Barclays raised their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Finally, Benchmark restated a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.21.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTI. Price T Rowe Associates Inc. MD increased its position in TechnipFMC by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after purchasing an additional 3,259,348 shares during the period. Vanguard Group Inc. increased its position in TechnipFMC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after purchasing an additional 134,880 shares during the period. American Century Companies Inc. increased its position in TechnipFMC by 161.9% during the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock valued at $108,048,000 after purchasing an additional 3,283,972 shares during the period. Goldman Sachs Group Inc. increased its position in TechnipFMC by 2.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock valued at $70,864,000 after purchasing an additional 85,451 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in shares of TechnipFMC by 868.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after buying an additional 2,808,618 shares during the period. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.