Cerity Partners LLC Takes Position in TechnipFMC plc (NYSE:FTI)

Cerity Partners LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 339,431 shares of the oil and gas company’s stock, valued at approximately $6,836,000. Cerity Partners LLC owned about 0.08% of TechnipFMC as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of TechnipFMC by 11.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,933,447 shares of the oil and gas company’s stock valued at $718,398,000 after acquiring an additional 5,888,998 shares in the last quarter. Vanguard Group Inc. lifted its stake in TechnipFMC by 320.3% in the 3rd quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $809,303,000 after purchasing an additional 30,323,011 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of TechnipFMC by 87.8% during the 2nd quarter. BlackRock Inc. now owns 19,869,072 shares of the oil and gas company’s stock worth $330,224,000 after purchasing an additional 9,287,344 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of TechnipFMC by 75.7% during the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after purchasing an additional 5,587,050 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of TechnipFMC by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,214,539 shares of the oil and gas company’s stock valued at $207,764,000 after purchasing an additional 593,828 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the sale, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays boosted their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective for the company. in a report on Friday, February 23rd. ATB Capital set a $30.00 target price on shares of TechnipFMC and gave the stock an “outperform” rating in a research note on Friday, December 22nd. Susquehanna reissued a “positive” rating and issued a $27.00 price target on shares of TechnipFMC in a research note on Monday, April 8th. Finally, Bank of America lifted their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.34.

TechnipFMC Price Performance

FTI opened at $25.48 on Tuesday. The stock’s 50-day moving average price is $23.05 and its 200 day moving average price is $21.19. TechnipFMC plc has a 12-month low of $12.64 and a 12-month high of $27.26. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 212.35 and a beta of 1.65. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the firm posted ($0.05) earnings per share. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that TechnipFMC plc will post 1.15 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Tuesday, March 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Monday, March 18th. TechnipFMC’s dividend payout ratio is currently 166.68%.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.