Thrivent Financial for Lutherans Sells 436,345 Shares of TechnipFMC plc $FTI

Thrivent Financial for Lutherans decreased its position in TechnipFMC plc (NYSE:FTI) by 22.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,520,645 shares of the oil and gas company’s stock after selling 436,345 shares during the quarter. Thrivent Financial for Lutherans’ holdings in TechnipFMC were worth $67,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of FTI. State Street Corp raised its position in shares of TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares during the period. AQR Capital Management LLC raised its position in shares of TechnipFMC by 34.0% in the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock valued at $525,339,000 after purchasing an additional 3,378,159 shares during the period. Alliancebernstein L.P. raised its position in shares of TechnipFMC by 184.0% in the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock valued at $189,460,000 after purchasing an additional 3,111,399 shares during the period. Bank of New York Mellon Corp raised its position in shares of TechnipFMC by 80.6% in the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after purchasing an additional 1,415,621 shares during the period. Finally, Danske Bank A S bought a new position in shares of TechnipFMC in the third quarter valued at approximately $52,848,000. Institutional investors own 96.58% of the company’s stock.

Insider Activity

In other TechnipFMC news, EVP Luana Duffe sold 47,951 shares of TechnipFMC stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the sale, the executive vice president owned 78,871 shares in the company, valued at $4,923,916.53. The trade was a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC 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 sale, the director owned 59,887 shares in the company, valued at $4,151,366.84. This represents a 9.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is owned by insiders.

TechnipFMC Trading Down 2.5%

Shares of FTI stock opened at $71.21 on Friday. TechnipFMC plc has a 1 year low of $28.87 and a 1 year high of $77.78. The firm’s fifty day simple moving average is $70.27 and its 200 day simple moving average is $57.33. The firm has a market capitalization of $28.39 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.74. 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 announced its 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. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. TechnipFMC’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that TechnipFMC plc will post 2.93 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s payout ratio is currently 7.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FTI shares. Barclays lifted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. UBS Group set a $70.00 price target on shares of TechnipFMC in a research report on Friday, February 20th. Citigroup boosted their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Finally, Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

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.