Key Points
- Insider sale: TechnipFMC insider Thierry Conti sold 6,000 shares for $431,100 under a pre-arranged Rule 10b5-1 trading plan, reducing his stake by 6.54% to 85,813 shares.
- Strong quarterly performance: The company reported quarterly EPS of $0.91, exceeding estimates of $0.80, while revenue rose 9% year over year to $2.76 billion.
- Analyst outlook remains positive: TechnipFMC has a consensus “Moderate Buy” rating, with 12 Buy ratings, one Strong Buy, and an average price target of $70; institutional investors own 96.58% of the stock.
TechnipFMC plc (NYSE:FTI - Get Free Report) insider Thierry Conti sold 6,000 shares of the business's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the sale, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
TechnipFMC Stock Up 0.6%
Shares of TechnipFMC stock opened at $71.27 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The company has a 50-day moving average of $74.76 and a 200 day moving average of $71.45. The firm has a market cap of $27.95 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.41 and a beta of 0.74. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.70.
TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same period last year, the company posted $0.68 EPS. TechnipFMC's revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that TechnipFMC plc will post 3.17 earnings per share for the current fiscal year.
TechnipFMC Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC's dividend payout ratio (DPR) is presently 6.94%.
Institutional Investors Weigh In On TechnipFMC
A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in TechnipFMC in the 2nd quarter worth approximately $3,081,514,000. Geode Capital Management LLC boosted its stake in TechnipFMC by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company's stock valued at $337,714,000 after purchasing an additional 193,244 shares during the last quarter. Amundi increased its holdings in shares of TechnipFMC by 72.6% in the 2nd quarter. Amundi now owns 4,358,115 shares of the oil and gas company's stock worth $288,943,000 after purchasing an additional 1,832,581 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of TechnipFMC in the 2nd quarter worth $226,069,000. Finally, Norges Bank purchased a new position in shares of TechnipFMC in the fourth quarter worth $205,468,000. Hedge funds and other institutional investors own 96.58% of the company's stock.
Analysts Set New Price Targets
FTI has been the topic of several recent research reports. The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings raised TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, September 10th. Citigroup boosted their target price on TechnipFMC from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, September 15th. Finally, Jefferies Financial Group restated a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.00.
View Our Latest Stock Report on FTI
TechnipFMC Company Profile
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Get Free Report)
TechnipFMC plc (NYSE: FTI) is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.
The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.
Further Reading
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