New Mexico Educational Retirement Board Makes New Investment in TechnipFMC plc $FTI

New Mexico Educational Retirement Board purchased a new stake in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 83,700 shares of the oil and gas company’s stock, valued at approximately $3,302,000.

Other large investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the period. Hantz Financial Services Inc. increased its holdings in TechnipFMC by 1.5% in the third quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company’s stock valued at $948,000 after purchasing an additional 365 shares during the period. Gries Financial LLC increased its holdings in TechnipFMC by 6.2% in the third quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 391 shares during the period. SG Americas Securities LLC raised its position in TechnipFMC by 2.9% during the 3rd quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company’s stock worth $572,000 after purchasing an additional 408 shares during the last quarter. Finally, Quadcap Wealth Management LLC raised its position in TechnipFMC by 3.3% during the 2nd quarter. Quadcap Wealth Management LLC now owns 16,256 shares of the oil and gas company’s stock worth $560,000 after purchasing an additional 521 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In other TechnipFMC news, insider Jonathan Landes sold 116,194 shares of the 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 transaction, the insider owned 71,356 shares in the company, valued at approximately $4,438,343.20. This represents a 61.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alf Melin sold 43,554 shares of the business’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 sale, the chief financial officer owned 238,983 shares of the company’s stock, valued at approximately $15,086,996.79. This represents a 15.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,210,092 shares of company stock worth $75,322,232 over the last three months. Insiders own 1.80% of the company’s stock.

TechnipFMC Stock Up 1.7%

TechnipFMC stock opened at $66.22 on Friday. The company has a market capitalization of $26.49 billion, a PE ratio of 28.67, a PEG ratio of 1.20 and a beta of 0.70. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $68.29. The firm’s fifty day moving average is $59.69 and its 200 day moving average is $48.12. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

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

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 8.66%.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of analyst reports. UBS Group set a $70.00 price target on TechnipFMC in a research report on Friday, February 20th. The Goldman Sachs Group raised their price objective on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $49.00 to $62.00 in a research note on Friday, February 20th. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Piper Sandler raised their price target on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.47.

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.