Dockside LLC Makes New $6.33 Million Investment in TechnipFMC plc $FTI

Dockside LLC acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 142,086 shares of the oil and gas company’s stock, valued at approximately $6,331,000. TechnipFMC comprises approximately 1.6% of Dockside LLC’s holdings, making the stock its 9th largest position.

Other institutional investors also recently modified their holdings of the company. Focus Partners Wealth grew its position in TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after purchasing an additional 5,161 shares during the period. Geneos Wealth Management Inc. grew its position in 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 valued at $35,000 after purchasing an additional 340 shares during the period. Sivia Capital Partners LLC grew its position in TechnipFMC by 76.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after purchasing an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in TechnipFMC by 132.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 3,105 shares during the period. Finally, Ossiam grew its position in TechnipFMC by 52.0% in the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTI has been the subject of several research reports. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore reaffirmed an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Finally, BMO Capital Markets lifted their target price on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.71.

TechnipFMC Stock Up 0.1%

Shares of NYSE:FTI opened at $70.70 on Friday. The stock has a market cap of $28.19 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.52 and a beta of 0.69. 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 plc has a 12-month low of $31.88 and a 12-month high of $77.78. The business’s 50 day moving average is $71.67 and its 200 day moving average is $61.15.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, sell-side analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

Insiders Place Their Bets

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director owned 59,887 shares in the company, valued at $4,151,366.84. This represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Company Profile

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.