Bridgefront Capital LLC Has $482,000 Stake in TechnipFMC plc $FTI

Bridgefront Capital LLC decreased its stake in TechnipFMC plc (NYSE:FTI) by 64.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,217 shares of the oil and gas company’s stock after selling 21,732 shares during the period. Bridgefront Capital LLC’s holdings in TechnipFMC were worth $482,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FTI. AE Wealth Management LLC grew its stake in shares of 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 buying an additional 50,593 shares in 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 grew its position in shares of TechnipFMC by 80.6% in the 3rd 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 period. Rothschild Investment LLC grew its position in shares of TechnipFMC by 25,468.9% in the 3rd 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 period. Finally, New York State Common Retirement Fund increased its stake in shares of TechnipFMC by 8.4% during the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock worth $12,053,000 after purchasing an additional 23,600 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

NYSE FTI opened at $63.71 on Tuesday. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $68.29. The firm has a market capitalization of $25.49 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.16 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The firm’s 50 day simple moving average is $58.70 and its 200 day simple moving average is $47.67.

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

TechnipFMC Announces Dividend

The firm also recently disclosed 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. 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, March 17th. TechnipFMC’s payout ratio is currently 8.66%.

Insider Buying and Selling at TechnipFMC

In other news, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction 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 in the company, valued at $4,438,343.20. The trade was a 61.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.24, for a total value of $45,648,309.76. Following the completion of the sale, the chief executive officer owned 2,411,852 shares in the company, valued at $150,113,668.48. This represents a 23.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,210,092 shares of company stock valued at $75,322,232 over the last 90 days. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FTI shares. Barclays reiterated an “overweight” rating and issued a $69.00 target price on shares of TechnipFMC in a research note on Friday, February 20th. Citigroup raised 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. Susquehanna lifted their target price on TechnipFMC from $56.00 to $71.00 and gave the stock a “positive” rating in a research note on Friday, February 20th. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Finally, BMO Capital Markets increased their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. One 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.47.

TechnipFMC 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.