Vanguard Group Inc. Sells 803,488 Shares of TechnipFMC plc $FTI

Vanguard Group Inc. reduced its holdings in shares of TechnipFMC plc (NYSE:FTI) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,000,862 shares of the oil and gas company’s stock after selling 803,488 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of TechnipFMC worth $1,737,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AE Wealth Management LLC boosted its stake in shares of TechnipFMC by 38.0% during the 3rd quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after acquiring an additional 50,593 shares during the period. Lingohr Asset Management GmbH boosted its stake in shares of TechnipFMC by 461.7% during the 3rd quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock worth $8,375,000 after acquiring an additional 174,500 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of TechnipFMC by 80.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after acquiring an additional 1,415,621 shares during the period. Rothschild Investment LLC boosted its stake in shares of TechnipFMC by 25,468.9% during the 3rd quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock worth $454,000 after acquiring an additional 11,461 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in TechnipFMC by 8.4% in the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after purchasing an additional 23,600 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jonathan Landes sold 116,194 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the completion of the transaction, the insider owned 71,356 shares of the company’s stock, valued at approximately $4,438,343.20. The trade was a 61.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Luana Duffe sold 47,951 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $2,993,580.93. Following the transaction, the executive vice president directly owned 78,871 shares of the company’s stock, valued at $4,923,916.53. This trade represents a 37.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,216,442 shares of company stock worth $75,762,414. 1.40% of the stock is owned by insiders.

TechnipFMC Stock Performance

NYSE:FTI opened at $77.06 on Thursday. The stock has a fifty day moving average price of $68.80 and a 200-day moving average price of $54.84. The company has a market cap of $30.95 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 1.53 and a beta of 0.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. TechnipFMC plc has a fifty-two week low of $27.70 and a fifty-two week high of $77.10.

TechnipFMC (NYSE:FTI) last released its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. As a group, equities analysts anticipate that TechnipFMC plc will post 2.92 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, May 19th. TechnipFMC’s dividend payout ratio is presently 8.66%.

Wall Street Analyst Weigh In

FTI has been the subject of several recent research reports. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. BMO Capital Markets boosted their price target on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Citigroup boosted their price target on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.73.

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.