ING Groep NV Sells 569,241 Shares of TechnipFMC plc $FTI

ING Groep NV cut its holdings in shares of TechnipFMC plc (NYSE:FTI) by 52.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 523,653 shares of the oil and gas company’s stock after selling 569,241 shares during the period. ING Groep NV’s holdings in TechnipFMC were worth $23,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FTI. Focus Partners Wealth boosted its stake in shares of TechnipFMC by 27.2% during the first 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 in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of TechnipFMC by 45.3% during the first 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 in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of TechnipFMC by 76.1% during the second 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of TechnipFMC by 132.5% during the second 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 in the last quarter. Finally, Ossiam boosted its stake in shares of TechnipFMC by 52.0% during the second 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 in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Down 0.1%

NYSE FTI opened at $66.76 on Monday. The company has a fifty day simple moving average of $71.66 and a two-hundred day simple moving average of $60.36. The stock has a market cap of $26.62 billion, a P/E ratio of 25.48, a P/E/G ratio of 1.44 and a beta of 0.69. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78. 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 (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. On average, analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Insiders Place Their Bets

In other TechnipFMC news, CFO Alf Melin sold 43,554 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total value of $2,749,564.02. Following the completion of the transaction, the chief financial officer owned 238,983 shares of the company’s stock, valued at approximately $15,086,996.79. This trade represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total transaction of $440,182.00. Following the transaction, the director directly owned 59,887 shares of the company’s stock, valued at approximately $4,151,366.84. This trade represents a 9.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FTI. Royal Bank Of Canada raised their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. BMO Capital Markets raised their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. UBS Group set a $80.00 target price on shares of TechnipFMC in a research note on Wednesday. Finally, TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $69.71.

About TechnipFMC

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.