Harbor Capital Advisors Inc. Makes New Investment in TechnipFMC plc $FTI

Harbor Capital Advisors Inc. purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,384 shares of the oil and gas company’s stock, valued at approximately $641,000.

A number of other institutional investors also recently modified their holdings of the company. Focus Partners Wealth boosted its holdings in shares of TechnipFMC by 27.2% during 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 during the period. Geneos Wealth Management Inc. raised 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 acquiring an additional 340 shares during the period. Sivia Capital Partners LLC lifted its position in 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 worth $508,000 after acquiring an additional 6,381 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in TechnipFMC by 132.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after acquiring an additional 3,105 shares during the period. Finally, M&T Bank Corp boosted its holdings in TechnipFMC by 8.9% during the second quarter. M&T Bank Corp now owns 19,063 shares of the oil and gas company’s stock valued at $656,000 after acquiring an additional 1,552 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE FTI opened at $71.62 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89. The firm has a market capitalization of $28.76 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 1.31 and a beta of 0.71. The company’s fifty day moving average is $63.85 and its two-hundred day moving average is $50.83. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $72.59.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.19. The company had revenue of $2.52 billion for 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%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. Equities research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

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

Insider Buying and Selling

In other TechnipFMC news, CFO Alf Melin sold 43,554 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer directly owned 238,983 shares in the company, valued at $15,086,996.79. This trade represents a 15.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan Landes sold 116,194 shares of the firm’s 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 completion of the sale, the insider owned 71,356 shares in the company, valued at $4,438,343.20. This represents a 61.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,216,442 shares of company stock worth $75,762,414. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FTI has been the topic of a number of recent analyst reports. Susquehanna lifted their price objective on TechnipFMC from $71.00 to $82.00 and gave the stock a “positive” rating in a research note on Wednesday, March 25th. Royal Bank Of Canada increased their target price on TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and raised their target price for the company from $49.00 to $62.00 in a report on Friday, February 20th. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Finally, BMO Capital Markets increased 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. One equities 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. According to data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $59.20.

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.