TechnipFMC plc $FTI Shares Sold by Renaissance Group LLC

Renaissance Group LLC lowered its holdings in TechnipFMC plc (NYSE:FTI) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 189,410 shares of the oil and gas company’s stock after selling 13,241 shares during the quarter. Renaissance Group LLC’s holdings in TechnipFMC were worth $8,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. State Street Corp increased its holdings in shares of TechnipFMC by 62.2% during the 3rd 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 in the last quarter. Norges Bank purchased a new position in TechnipFMC in the fourth quarter valued at $205,468,000. 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 worth $525,339,000 after acquiring an additional 3,378,159 shares during the period. Alliancebernstein L.P. boosted its stake in shares of TechnipFMC by 184.0% during the 3rd quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock worth $189,460,000 after acquiring an additional 3,111,399 shares in the last quarter. Finally, Danske Bank A S purchased a new position in shares of TechnipFMC in the 3rd quarter valued at about $52,848,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction 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 sale, the director directly owned 59,887 shares in the company, valued at approximately $4,151,366.84. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Trading Up 2.5%

Shares of TechnipFMC stock opened at $70.13 on Thursday. The stock has a 50 day moving average of $71.62 and a 200 day moving average of $60.89. 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 has a market capitalization of $27.96 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.47 and a beta of 0.69. TechnipFMC plc has a fifty-two week low of $31.88 and a fifty-two week high of $77.78.

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

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders 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 of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Evercore restated an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. Royal Bank Of Canada lifted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus target price of $69.71.

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.