North Dakota State Investment Board Takes $639,000 Position in TechnipFMC plc $FTI

North Dakota State Investment Board bought a new stake in TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,338 shares of the oil and gas company’s stock, valued at approximately $639,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new stake in shares of TechnipFMC in the fourth quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC in the third quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its holdings in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC in the fourth quarter valued at about $41,000. Finally, Torren Management LLC purchased a new stake in shares of TechnipFMC in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI opened at $71.45 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock has a market cap of $28.49 billion, a P/E ratio of 27.27, a PEG ratio of 1.56 and a beta of 0.74. The company has a 50-day moving average of $70.98 and a two-hundred day moving average of $58.34. TechnipFMC plc has a 12-month low of $28.87 and a 12-month high of $77.78.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. As a group, research analysts predict that TechnipFMC plc will post 2.96 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FTI shares. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and lifted their target price for the company from $49.00 to $62.00 in a report on Friday, February 20th. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Susquehanna raised their price objective on shares of TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a research note on Friday, May 1st. The Goldman Sachs Group raised their price objective on shares of TechnipFMC from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, Evercore reiterated an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Insiders Place Their Bets

In other news, EVP Justin Rounce sold 172,276 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.10, for a total value 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 $7,431,320.70. The trade was a 59.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan Landes sold 116,194 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the completion of the transaction, the insider directly owned 71,356 shares of the company’s stock, valued at approximately $4,438,343.20. This represents a 61.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is currently owned by insiders.

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.