TechnipFMC plc $FTI Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC decreased its holdings in TechnipFMC plc (NYSE:FTI) by 29.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,915 shares of the oil and gas company’s stock after selling 15,005 shares during the quarter. Polen Capital Management LLC’s holdings in TechnipFMC were worth $1,600,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Savvy Advisors Inc. acquired a new position in TechnipFMC in the 3rd quarter worth about $708,000. Archford Capital Strategies LLC acquired a new position in shares of TechnipFMC during the fourth quarter valued at approximately $1,691,000. Asset Management One Co. Ltd. acquired a new position in shares of TechnipFMC during the fourth quarter valued at approximately $833,000. Farther Finance Advisors LLC raised its holdings in shares of TechnipFMC by 394.3% during the fourth quarter. Farther Finance Advisors LLC now owns 11,848 shares of the oil and gas company’s stock valued at $528,000 after acquiring an additional 9,451 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of TechnipFMC during the third quarter valued at approximately $52,848,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the subject of a number of research analyst reports. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Wednesday, May 6th. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Piper Sandler increased their target price on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Citigroup increased their target price on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, BMO Capital Markets increased their target price on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.71.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction that occurred 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 directly owned 59,887 shares in the company, valued at approximately $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.

TechnipFMC Price Performance

FTI stock opened at $70.55 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The business has a 50 day simple moving average of $71.65 and a 200-day simple moving average of $61.08. The firm has a market capitalization of $28.13 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 1.50 and a beta of 0.69. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78.

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, beating analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. Equities research analysts anticipate 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. Investors of record on Tuesday, May 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is presently 7.63%.

TechnipFMC 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.