Faithward Advisors LLC Takes $3.46 Million Position in TechnipFMC plc $FTI

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

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the period. Huntington National Bank boosted its stake in shares of TechnipFMC by 317.8% in the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 909 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its stake in shares of TechnipFMC by 476.3% in the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,024 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Buying and Selling

In related news, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the completion of the transaction, the executive vice president directly owned 119,667 shares in the company, valued at $7,431,320.70. The trade was a 59.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alf Melin sold 43,554 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total value 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. The trade was a 15.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,210,092 shares of company stock valued at $75,322,232. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays reiterated an “overweight” rating and issued a $69.00 price objective on shares of TechnipFMC in a research report on Friday, February 20th. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. UBS Group set a $70.00 price target on shares of TechnipFMC in a research note on Friday, February 20th. Susquehanna increased their price target on shares of TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a report on Friday, February 20th. Finally, Piper Sandler raised their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.47.

TechnipFMC Stock Up 2.4%

FTI 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 company has a market cap of $26.10 billion, a price-to-earnings ratio of 28.24, a PEG 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 business’s fifty day moving average is $59.04 and its two-hundred day moving average is $47.87.

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

TechnipFMC Announces Dividend

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

About TechnipFMC

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.