Mackenzie Financial Corp Sells 149,536 Shares of TechnipFMC plc (NYSE:FTI)

Mackenzie Financial Corp cut its holdings in TechnipFMC plc (NYSE:FTI) by 17.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 686,771 shares of the oil and gas company’s stock after selling 149,536 shares during the period. Mackenzie Financial Corp’s holdings in TechnipFMC were worth $13,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Raymond James & Associates boosted its holdings in shares of TechnipFMC by 18.6% in the first quarter. Raymond James & Associates now owns 266,995 shares of the oil and gas company’s stock worth $2,069,000 after acquiring an additional 41,955 shares during the period. Bank of Montreal Can boosted its stake in TechnipFMC by 334.1% during the first quarter. Bank of Montreal Can now owns 49,994 shares of the oil and gas company’s stock valued at $388,000 after buying an additional 38,477 shares during the period. BlackRock Inc. grew its position in TechnipFMC by 11.6% during the first quarter. BlackRock Inc. now owns 9,915,455 shares of the oil and gas company’s stock worth $76,845,000 after buying an additional 1,029,472 shares in the last quarter. Yousif Capital Management LLC bought a new position in TechnipFMC in the 1st quarter worth about $172,000. Finally, Sei Investments Co. increased its stake in TechnipFMC by 93.5% in the 1st quarter. Sei Investments Co. now owns 258,480 shares of the oil and gas company’s stock worth $1,989,000 after acquiring an additional 124,906 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on FTI. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Bank of America boosted their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday. ATB Capital set a $30.00 price objective on shares of TechnipFMC and gave the company an “outperform” rating in a research report on Friday, December 22nd. Benchmark reiterated a “buy” rating and issued a $30.00 target price (up from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. Finally, Barclays increased their target price on TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.34.

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.06% of the company’s stock.

TechnipFMC Trading Down 0.7 %

Shares of FTI stock opened at $25.16 on Friday. The business has a 50-day moving average of $23.42 and a 200 day moving average of $21.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. TechnipFMC plc has a 1-year low of $12.64 and a 1-year high of $27.26. The stock has a market capitalization of $11.00 billion, a PE ratio of 209.68 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business’s revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts anticipate that TechnipFMC plc will post 1.15 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Tuesday, March 19th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Monday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 166.68%.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.