TechnipFMC plc $FTI Stock Holdings Lessened by TD Asset Management Inc

by · The Cerbat Gem

TD Asset Management Inc reduced its holdings in TechnipFMC plc (NYSE:FTIFree Report) by 20.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,295,768 shares of the oil and gas company’s stock after selling 337,470 shares during the quarter. TD Asset Management Inc owned approximately 0.32% of TechnipFMC worth $57,739,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the 3rd quarter worth about $32,000. Harbor Investment Advisory LLC bought a new position in shares of TechnipFMC in the 4th quarter worth about $32,000. Geneos Wealth Management Inc. lifted its position in shares of 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 buying an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TechnipFMC in the 4th quarter worth about $41,000. Finally, Torren Management LLC bought a new position in shares of TechnipFMC in the 4th quarter worth about $45,000. 96.58% of the stock is currently owned by institutional investors.

Insider Activity

In other TechnipFMC news, CFO Alf Melin sold 83,721 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer directly owned 282,537 shares in the company, valued at approximately $17,469,262.71. The trade was a 22.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Justin Rounce sold 172,276 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the sale, the executive vice president owned 119,667 shares in the company, valued at $7,431,320.70. This trade represents a 59.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,210,092 shares of company stock worth $75,347,124 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Susquehanna raised their price target on shares of TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research report on Friday, May 1st. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday. Piper Sandler raised their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Evercore restated an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the company 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 four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.71.

Read Our Latest Stock Analysis on TechnipFMC

TechnipFMC Trading Down 3.3%

Shares of NYSE:FTI opened at $66.76 on Friday. The company has a market cap of $26.62 billion, a PE ratio of 25.48, a P/E/G ratio of 1.48 and a beta of 0.69. The company’s 50-day moving average price is $71.66 and its 200 day moving average price is $60.24. TechnipFMC plc has a fifty-two week low of $31.88 and a fifty-two week high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTIGet Free Report) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. TechnipFMC’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. Sell-side analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were given a $0.05 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

About TechnipFMC

(Free Report)

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.

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