Manatuck Hill Partners LLC Raises Stock Holdings in TechnipFMC plc $FTI

Manatuck Hill Partners LLC lifted its position in shares of TechnipFMC plc (NYSE:FTI) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,000 shares of the oil and gas company’s stock after purchasing an additional 30,000 shares during the quarter. TechnipFMC accounts for 3.4% of Manatuck Hill Partners LLC’s portfolio, making the stock its 6th largest position. Manatuck Hill Partners LLC’s holdings in TechnipFMC were worth $9,803,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Inspire Investing LLC raised its stake in TechnipFMC by 4.5% during the 4th quarter. Inspire Investing LLC now owns 35,838 shares of the oil and gas company’s stock worth $1,597,000 after buying an additional 1,536 shares during the period. Janus Henderson Group PLC increased its holdings in shares of TechnipFMC by 36.2% in the fourth quarter. Janus Henderson Group PLC now owns 719,201 shares of the oil and gas company’s stock worth $32,058,000 after acquiring an additional 191,247 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of TechnipFMC by 65.2% during the fourth quarter. Gotham Asset Management LLC now owns 1,336,215 shares of the oil and gas company’s stock worth $59,542,000 after purchasing an additional 527,215 shares during the period. Evolve Private Wealth LLC bought a new position in shares of TechnipFMC during the 4th quarter valued at about $1,544,000. Finally, Corigliano Investment Advisers LLC grew its position in shares of TechnipFMC by 15.4% in the 4th quarter. Corigliano Investment Advisers LLC now owns 14,500 shares of the oil and gas company’s stock valued at $646,000 after purchasing an additional 1,930 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.4%

Shares of FTI stock opened at $67.24 on Thursday. The firm’s fifty day moving average price is $71.44 and its two-hundred day moving average price is $61.74. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78. The firm has a market capitalization of $26.81 billion, a P/E ratio of 25.66, a PEG ratio of 1.44 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last announced 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. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the company earned $0.33 EPS. TechnipFMC’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts predict that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the transaction, the director directly owned 59,887 shares of the company’s stock, valued at $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of research reports. Barclays lifted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore reissued an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and increased their price objective for the stock from $49.00 to $62.00 in a report on Friday, February 20th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. 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 company. According to data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $69.71.

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.