Swiss Life Asset Management Ltd Grows Stock Position in TechnipFMC plc $FTI

Swiss Life Asset Management Ltd boosted its stake in TechnipFMC plc (NYSE:FTI) by 40.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,214 shares of the oil and gas company’s stock after acquiring an additional 8,382 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in TechnipFMC were worth $1,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. AE Wealth Management LLC grew its holdings in TechnipFMC by 38.0% during the 3rd quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after acquiring an additional 50,593 shares in the last quarter. Lingohr Asset Management GmbH grew its holdings in TechnipFMC by 461.7% during the 3rd quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock worth $8,375,000 after acquiring an additional 174,500 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in TechnipFMC by 80.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after acquiring an additional 1,415,621 shares in the last quarter. New York State Common Retirement Fund grew its holdings in 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 acquiring an additional 23,600 shares in the last quarter. Finally, Savvy Advisors Inc. acquired a new position in TechnipFMC during the 3rd quarter worth $708,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI opened at $71.21 on Friday. TechnipFMC plc has a 1 year low of $28.87 and a 1 year high of $77.78. The company has a market cap of $28.39 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a fifty day moving average of $70.27 and a 200-day moving average of $57.33.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.52 billion. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, equities analysts anticipate that TechnipFMC plc will post 2.93 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.05 per share. 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, May 19th. TechnipFMC’s payout ratio is 7.63%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FTI shares. Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a report on Friday, May 1st. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Susquehanna lifted their target price on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research report on Friday, May 1st. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada lifted their target price on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given 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.

Insider Activity at TechnipFMC

In other news, EVP Luana Duffe sold 47,951 shares of TechnipFMC 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 sale, the executive vice president owned 78,871 shares of the company’s stock, valued at approximately $4,923,916.53. The trade was a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO David Light sold 6,622 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $413,411.46. Following the transaction, the chief accounting officer directly owned 5,005 shares in the company, valued at $312,462.15. This trade represents a 56.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. Company insiders own 1.40% of the company’s stock.

About TechnipFMC

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.