Cumberland Partners Ltd Acquires 30,000 Shares of TechnipFMC plc $FTI

Cumberland Partners Ltd increased its holdings in TechnipFMC plc (NYSE:FTI) by 85.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 65,000 shares of the oil and gas company’s stock after purchasing an additional 30,000 shares during the period. Cumberland Partners Ltd’s holdings in TechnipFMC were worth $2,896,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of FTI. Focus Partners Wealth increased its holdings in TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after buying an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in 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 worth $35,000 after buying an additional 340 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after purchasing an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of TechnipFMC by 132.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 3,105 shares during the period. Finally, Ossiam grew its stake in shares of TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on FTI shares. Piper Sandler lifted their price objective on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Citigroup lifted their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. BMO Capital Markets lifted their price objective on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Finally, Evercore reaffirmed an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Insider Buying and Selling

In other news, insider Jonathan Landes sold 116,194 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the sale, the insider directly owned 71,356 shares of the company’s stock, valued at $4,438,343.20. This represents a 61.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Luana Duffe sold 47,951 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $2,993,580.93. Following the sale, the executive vice president directly owned 78,871 shares in the company, valued at $4,923,916.53. This trade represents a 37.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,216,442 shares of company stock worth $75,762,414 in the last quarter. 1.40% of the stock is owned by insiders.

TechnipFMC Stock Down 0.4%

NYSE FTI opened at $71.09 on Friday. The stock’s 50 day moving average is $71.12 and its 200 day moving average is $58.43. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 12 month low of $28.89 and a 12 month high of $77.78. The stock has a market cap of $28.35 billion, a PE ratio of 27.14, a P/E/G ratio of 1.53 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm earned $0.33 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Research analysts predict that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

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.