Dynamic Technology Lab Private Ltd Makes New $1.71 Million Investment in TechnipFMC plc $FTI

Dynamic Technology Lab Private Ltd acquired a new position in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,354 shares of the oil and gas company’s stock, valued at approximately $1,710,000.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in TechnipFMC by 5,475.0% in the 3rd 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 in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares in the last quarter. Huntington National Bank boosted its position in shares of TechnipFMC by 317.8% in the third 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 period. McIlrath & Eck LLC boosted its position in shares of TechnipFMC by 476.3% in the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,024 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in shares of TechnipFMC in the third quarter valued at about $51,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the topic of several recent research reports. Barclays reissued an “overweight” rating and set a $69.00 price target on shares of TechnipFMC in a research report on Friday, February 20th. BMO Capital Markets increased their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Piper Sandler raised their price target on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.47.

TechnipFMC Trading Down 2.3%

NYSE:FTI opened at $62.93 on Friday. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.17 and a beta of 0.70. TechnipFMC plc has a one year low of $22.11 and a one year high of $68.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The business’s 50-day simple moving average is $56.56 and its 200 day simple moving average is $46.43.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the firm earned $0.54 EPS. TechnipFMC’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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 dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 8.66%.

Insider Buying and Selling at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 6,350 shares of TechnipFMC stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total value of $415,290.00. Following the completion of the sale, the director owned 97,860 shares in the company, valued at approximately $6,400,044. The trade was a 6.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

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.