Shayne & Jacobs LLC Reduces Holdings in TechnipFMC plc $FTI

Shayne & Jacobs LLC lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 8.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 153,635 shares of the oil and gas company’s stock after selling 14,035 shares during the period. TechnipFMC makes up 3.3% of Shayne & Jacobs LLC’s investment portfolio, making the stock its 6th biggest holding. Shayne & Jacobs LLC’s holdings in TechnipFMC were worth $10,621,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in FTI. V Square Quantitative Management LLC bought a new position in TechnipFMC during the first quarter valued at about $26,000. Harbor Investment Advisory LLC bought a new stake in shares of TechnipFMC in the 4th quarter worth approximately $32,000. Newbridge Financial Services Group Inc. bought a new stake in shares of TechnipFMC in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. grew its holdings in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC during the 1st quarter worth approximately $37,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of FTI stock traded up $0.38 during trading hours on Tuesday, hitting $67.64. The company had a trading volume of 1,337,579 shares, compared to its average volume of 4,414,370. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm’s fifty day moving average is $69.73 and its 200 day moving average is $63.58. The firm has a market capitalization of $26.97 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.43 and a beta of 0.70.

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

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.05 per share. 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 presently 7.63%.

Analysts Set New Price Targets

FTI has been the subject of a number of recent research reports. Barclays upped their target price on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Evercore reiterated an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Susquehanna raised their price objective on shares of TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a report on Friday, May 1st. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.00.

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.