Sumitomo Mitsui Trust Holdings Inc. Sells 11,542 Shares of TechnipFMC plc (NYSE:FTI)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of TechnipFMC plc (NYSE:FTI) by 16.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 56,758 shares of the oil and gas company’s stock after selling 11,542 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in TechnipFMC were worth $1,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust bought a new position in shares of TechnipFMC in the third quarter valued at approximately $29,000. Systematic Alpha Investments LLC bought a new position in shares of TechnipFMC in the third quarter valued at approximately $146,000. Ballentine Partners LLC bought a new position in shares of TechnipFMC in the third quarter valued at approximately $203,000. International Assets Investment Management LLC bought a new position in shares of TechnipFMC in the fourth quarter valued at approximately $203,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TechnipFMC in the fourth quarter valued at approximately $203,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 3.5 %

FTI opened at $26.63 on Friday. TechnipFMC plc has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. The firm’s fifty day moving average price is $24.07 and its two-hundred day moving average price is $21.50. The company has a market capitalization of $11.64 billion, a P/E ratio of 221.94 and a beta of 1.65.

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

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be paid a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio is presently 166.68%.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FTI has been the topic of a number of recent analyst reports. 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 report on Friday, February 23rd. Benchmark reaffirmed a “buy” rating and set a $30.00 target price (up previously from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. TD Cowen boosted their target price on shares of TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Finally, Susquehanna reaffirmed a “positive” rating and set a $27.00 target price on shares of TechnipFMC in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.