TechnipFMC plc $FTI Stock: Crossmark Global Holdings Inc. Grows Position

Crossmark Global Holdings Inc. boosted its holdings in TechnipFMC plc (NYSE:FTI) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 167,964 shares of the oil and gas company’s stock after buying an additional 9,120 shares during the period. Crossmark Global Holdings Inc.’s holdings in TechnipFMC were worth $11,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in shares of TechnipFMC during the 1st quarter worth about $26,000. Coppell Advisory Solutions LLC acquired a new stake in shares of TechnipFMC in the second quarter worth approximately $35,000. Ascentis Independent Advisors purchased a new stake in TechnipFMC in the first quarter valued at approximately $37,000. Keating Financial Advisory Services Inc. purchased a new stake in TechnipFMC in the second quarter valued at approximately $37,000. Finally, Ameritas Advisory Services LLC acquired a new position in TechnipFMC during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

TechnipFMC stock opened at $66.64 on Friday. TechnipFMC plc has a 52-week low of $38.13 and a 52-week high of $80.70. The firm has a fifty day moving average of $73.37 and a 200-day moving average of $71.81. The firm has a market capitalization of $26.13 billion, a P/E ratio of 23.14, a PEG ratio of 1.12 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts predict that TechnipFMC plc will post 3.20 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were paid 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 was Tuesday, August 18th. TechnipFMC’s payout ratio is currently 6.94%.

Insider Transactions at TechnipFMC

In related news, Director Eric Mullins bought 6,365 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. This represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the sale, the insider directly owned 85,813 shares of the company’s stock, valued at $6,165,664.05. The trade was a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FTI. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Susquehanna decreased their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Weiss Ratings upgraded TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 16th. Finally, Citigroup lifted their target price on TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $74.83.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.