TechnipFMC plc (NYSE:FTI) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in TechnipFMC plc (NYSE:FTI) by 6.2% in the fourth quarter, HoldingsChannel reports. The fund owned 352,260 shares of the oil and gas company’s stock after selling 23,119 shares during the quarter. Federated Hermes Inc.’s holdings in TechnipFMC were worth $7,095,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FTI. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TechnipFMC by 8.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,533 shares of the oil and gas company’s stock valued at $1,955,000 after purchasing an additional 7,704 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in shares of TechnipFMC by 320.2% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 56,616 shares of the oil and gas company’s stock valued at $1,140,000 after buying an additional 43,142 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of TechnipFMC during the 4th quarter worth approximately $6,836,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of TechnipFMC during the 4th quarter valued at approximately $37,976,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC in the 4th quarter valued at $203,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the sale, the director now directly owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.93% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $25.71 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 1.16. The firm has a market cap of $11.24 billion, a P/E ratio of 214.27 and a beta of 1.65. The firm’s 50 day moving average price is $23.93 and its 200-day moving average price is $21.46. TechnipFMC plc has a one year low of $12.64 and a one year high of $27.26.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.90 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The firm’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. As a group, equities research analysts predict that TechnipFMC plc will post 1.15 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.05 per share. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. TechnipFMC’s dividend payout ratio is presently 166.68%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FTI shares. Benchmark restated a “buy” rating and set a $30.00 price objective (up from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target on the stock. in a research note on Friday, February 23rd. Bank of America boosted their price objective on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. Susquehanna restated a “positive” rating and issued a $27.00 target price on shares of TechnipFMC in a research report on Monday, April 8th. Finally, StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.34.

About TechnipFMC

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.