TechnipFMC plc $FTI Position Trimmed by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 10.1% in the 4th quarter, Holdings Channel reports. The firm owned 424,762 shares of the oil and gas company’s stock after selling 47,618 shares during the quarter. Thornburg Investment Management Inc.’s holdings in TechnipFMC were worth $18,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in TechnipFMC by 34.0% during 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 last quarter. State Street Corp increased its stake in TechnipFMC by 62.2% during 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 last quarter. Boston Partners increased its stake in TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after purchasing an additional 192,549 shares during the last quarter. Geode Capital Management LLC increased its stake in TechnipFMC by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock valued at $337,714,000 after purchasing an additional 193,244 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in TechnipFMC by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,944,048 shares of the oil and gas company’s stock valued at $220,328,000 after purchasing an additional 180,418 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FTI. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. BMO Capital Markets upped their price target on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.71.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the sale, the director owned 59,887 shares of the company’s stock, valued at $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.

TechnipFMC Stock Down 0.1%

TechnipFMC stock opened at $70.70 on Monday. The company has a 50-day simple moving average of $71.67 and a 200-day simple moving average of $61.26. The firm has a market capitalization of $28.19 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC plc has a one year low of $31.88 and a one year high of $77.78.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share 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 net margin of 10.62% and a return on equity of 34.06%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. As a group, equities analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 7.63%.

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.