Sowell Financial Services LLC Acquires New Shares in TechnipFMC plc $FTI

Sowell Financial Services LLC acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 51,621 shares of the oil and gas company’s stock, valued at approximately $2,300,000.

A number of other institutional investors have also recently bought and sold shares of FTI. AE Wealth Management LLC lifted its stake in TechnipFMC by 38.0% in the third quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock valued at $7,243,000 after acquiring an additional 50,593 shares during the last quarter. Lingohr Asset Management GmbH lifted its stake in TechnipFMC by 461.7% in the third quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock valued at $8,375,000 after acquiring an additional 174,500 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in TechnipFMC by 80.6% in the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after acquiring an additional 1,415,621 shares during the last quarter. Rothschild Investment LLC lifted its stake in TechnipFMC by 25,468.9% in the third quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock valued at $454,000 after acquiring an additional 11,461 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in TechnipFMC by 8.4% in the third 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 acquiring an additional 23,600 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of analyst reports. Piper Sandler boosted their price target on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. BMO Capital Markets boosted their price target on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. The Goldman Sachs Group boosted their price target on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Susquehanna boosted their price target on TechnipFMC from $82.00 to $83.00 and gave the stock a “positive” rating in a research report on Tuesday. Finally, Royal Bank Of Canada boosted their price target on TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.27.

Insider Buying and Selling at TechnipFMC

In related news, EVP Justin Rounce sold 172,276 shares of the business’s stock in a transaction dated 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 owned 119,667 shares of the company’s stock, valued at approximately $7,431,320.70. The trade was a 59.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the transaction, the chief executive officer owned 2,411,852 shares of the company’s stock, valued at approximately $150,113,668.48. The trade was a 23.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,216,442 shares of company stock worth $75,762,414 in the last ninety days. 1.80% of the stock is owned by insiders.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $73.19 on Wednesday. The firm has a fifty day simple moving average of $64.20 and a 200-day simple moving average of $51.06. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $73.29. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.31 and a beta of 0.71.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share 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 in the previous year, the company earned $0.54 earnings per share. TechnipFMC’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, March 17th. TechnipFMC’s payout ratio is currently 8.66%.

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.