Exchange Traded Concepts LLC Increases Stock Holdings in TechnipFMC plc $FTI

Exchange Traded Concepts LLC boosted its stake in TechnipFMC plc (NYSE:FTI) by 18.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 66,973 shares of the oil and gas company’s stock after buying an additional 10,449 shares during the quarter. Exchange Traded Concepts LLC’s holdings in TechnipFMC were worth $2,984,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 657 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in TechnipFMC in the 4th quarter worth about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC in the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. lifted its position in shares of TechnipFMC by 45.3% during 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. Finally, Huntington National Bank boosted its stake in shares of TechnipFMC by 317.8% in the 3rd quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock worth $47,000 after buying an additional 909 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI stock opened at $69.04 on Wednesday. The firm’s 50 day moving average is $62.52 and its 200 day moving average is $49.93. The stock has a market capitalization of $27.72 billion, a P/E ratio of 29.89, a PEG ratio of 1.25 and a beta of 0.70. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $72.59. 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 (NYSE:FTI) last released its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. TechnipFMC’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be given a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is 8.66%.

Insider Activity at TechnipFMC

In other TechnipFMC news, EVP Luana Duffe sold 47,951 shares of TechnipFMC stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the transaction, the executive vice president owned 78,871 shares of the company’s stock, valued at $4,923,916.53. The trade was a 37.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alf Melin sold 43,554 shares of TechnipFMC stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total value of $2,749,564.02. Following the transaction, the chief financial officer directly owned 238,983 shares of the company’s stock, valued at $15,086,996.79. The trade was a 15.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,216,442 shares of company stock worth $75,762,414 in the last 90 days. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler lifted their price target on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. UBS Group set a $70.00 price target on shares of TechnipFMC in a report on Friday, February 20th. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. BMO Capital Markets raised their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Finally, Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.20.

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.