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

Two Sigma Advisers LP increased its position in shares of TechnipFMC plc (NYSE:FTI) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 743,700 shares of the oil and gas company’s stock after acquiring an additional 67,000 shares during the quarter. Two Sigma Advisers LP’s holdings in TechnipFMC were worth $21,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FTI. Two Sigma Investments LP raised its stake in TechnipFMC by 272.3% during the fourth quarter. Two Sigma Investments LP now owns 467,888 shares of the oil and gas company’s stock worth $13,541,000 after purchasing an additional 342,203 shares during the period. Tidal Investments LLC grew its stake in shares of TechnipFMC by 4.1% in the 4th quarter. Tidal Investments LLC now owns 59,827 shares of the oil and gas company’s stock valued at $1,731,000 after buying an additional 2,330 shares during the period. State of Wyoming increased its holdings in shares of TechnipFMC by 88.5% during the 4th quarter. State of Wyoming now owns 21,840 shares of the oil and gas company’s stock worth $632,000 after buying an additional 10,254 shares during the last quarter. Point72 Hong Kong Ltd raised its position in shares of TechnipFMC by 76.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 73,130 shares of the oil and gas company’s stock valued at $2,116,000 after buying an additional 31,672 shares during the period. Finally, Quadcap Wealth Management LLC purchased a new stake in shares of TechnipFMC during the 4th quarter valued at approximately $454,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity

In other news, CAO David Light sold 10,147 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares of the company’s stock, valued at approximately $3,004,301.76. This trade represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,706 shares of company stock worth $1,651,665. Corporate insiders own 1.80% of the company’s stock.

TechnipFMC Price Performance

FTI opened at $30.67 on Wednesday. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 20.18 and a beta of 0.98. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average price is $28.29 and its 200 day moving average price is $29.34. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $33.45.

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

TechnipFMC Announces Dividend

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

Wall Street Analyst Weigh In

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