Two Sigma Advisers LP Raises Stock Position in TechnipFMC plc (NYSE:FTI)

Two Sigma Advisers LP boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 743,700 shares of the oil and gas company’s stock after purchasing an additional 67,000 shares during the period. Two Sigma Advisers LP owned about 0.17% of TechnipFMC worth $21,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its holdings in shares of TechnipFMC by 4.6% in the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 357 shares during the period. Sigma Planning Corp raised its position in TechnipFMC by 3.3% during the fourth quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock valued at $334,000 after acquiring an additional 363 shares in the last quarter. Ballentine Partners LLC lifted its holdings in TechnipFMC by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock valued at $337,000 after acquiring an additional 423 shares during the period. Smartleaf Asset Management LLC lifted its holdings in TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 525 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 563 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This trade represents a 23.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This represents a 57.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock valued at $1,651,665 in the last 90 days. 1.80% of the stock is owned by insiders.

TechnipFMC Stock Down 1.7%

FTI opened at $30.67 on Wednesday. The company has a market cap of $12.86 billion, a PE ratio of 20.18 and a beta of 0.98. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $33.45. The company has a 50-day moving average price of $28.29 and a 200 day moving average price of $29.34. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. Sell-side analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.65%. TechnipFMC’s payout ratio is currently 10.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price target on shares of TechnipFMC in a research report on Monday, April 28th. Susquehanna decreased their price objective on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a research report on Monday, April 14th. StockNews.com lowered shares of TechnipFMC from a “hold” rating to a “sell” rating in a research note on Friday, May 16th. Finally, Barclays raised their target price on TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.