Mackenzie Financial Corp Boosts Position in TechnipFMC plc (NYSE:FTI)

Mackenzie Financial Corp boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 520,513 shares of the oil and gas company’s stock after acquiring an additional 1,652 shares during the period. Mackenzie Financial Corp’s holdings in TechnipFMC were worth $15,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in TechnipFMC during the fourth quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TechnipFMC during the 4th quarter worth about $46,000. EverSource Wealth Advisors LLC lifted its stake in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in shares of TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 563 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FTI shares. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday. Susquehanna reduced their price objective on TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Monday, April 28th. Sanford C. Bernstein downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research note on Thursday, May 22nd. Finally, Piper Sandler boosted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.46.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $29.67 on Tuesday. The business has a 50-day moving average price of $28.42 and a two-hundred day moving average price of $29.41. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. The stock has a market capitalization of $12.44 billion, a P/E ratio of 19.52 and a beta of 0.98.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, May 20th. TechnipFMC’s payout ratio is 10.53%.

Insider Buying and Selling

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

TechnipFMC Company 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.