Beese Fulmer Investment Management Inc. Acquires Shares of 8,659 TechnipFMC plc $FTI

Beese Fulmer Investment Management Inc. acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,659 shares of the oil and gas company’s stock, valued at approximately $386,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Independent Advisor Alliance boosted its holdings in shares of TechnipFMC by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after purchasing an additional 184 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of TechnipFMC by 3.0% during the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 225 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 valued at $35,000 after purchasing an additional 340 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of TechnipFMC by 8.6% in the 4th quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company’s stock valued at $200,000 after acquiring an additional 357 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of TechnipFMC by 1.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company’s stock valued at $948,000 after acquiring an additional 365 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the subject of a number of analyst reports. UBS Group set a $70.00 price target on shares of TechnipFMC in a report on Friday, February 20th. Evercore reaffirmed an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a report on Friday, May 1st. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and increased their price target for the company from $49.00 to $62.00 in a report on Friday, February 20th. Susquehanna increased their price target on shares of TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a report on Friday, May 1st. Finally, BMO Capital Markets increased their price target on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

TechnipFMC Stock Performance

TechnipFMC stock opened at $73.55 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. TechnipFMC plc has a 1-year low of $28.87 and a 1-year high of $77.78. The firm has a market capitalization of $29.32 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.44 and a beta of 0.74. The company’s 50-day moving average is $70.46 and its 200 day moving average is $57.68.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company posted $0.33 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 2.95 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 7.63%.

Insider Buying and Selling at TechnipFMC

In other news, CFO Alf Melin sold 83,721 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the transaction, the chief financial officer directly owned 282,537 shares of the company’s stock, valued at approximately $17,469,262.71. This trade represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Luana Duffe sold 47,951 shares of the firm’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 transaction of $2,993,580.93. Following the transaction, the executive vice president directly owned 78,871 shares in the company, valued at approximately $4,923,916.53. This trade represents a 37.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is owned by corporate insiders.

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.