M&T Bank Corp Reduces Stock Holdings in TechnipFMC plc (NYSE:FTI)

M&T Bank Corp reduced its holdings in TechnipFMC plc (NYSE:FTI) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,511 shares of the oil and gas company’s stock after selling 4,138 shares during the period. M&T Bank Corp’s holdings in TechnipFMC were worth $554,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ameriprise Financial Inc. grew its position in shares of TechnipFMC by 31.5% in the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company’s stock valued at $478,620,000 after purchasing an additional 3,962,315 shares in the last quarter. Norges Bank acquired a new stake in TechnipFMC during the fourth quarter worth about $96,808,000. Anomaly Capital Management LP increased its position in TechnipFMC by 46.5% during the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company’s stock worth $210,295,000 after purchasing an additional 2,306,342 shares during the last quarter. AQR Capital Management LLC boosted its stake in TechnipFMC by 70.6% during the fourth quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company’s stock worth $119,602,000 after buying an additional 1,710,183 shares during the period. Finally, Vanguard Group Inc. boosted its stake in TechnipFMC by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after buying an additional 1,623,864 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. BTIG Research downgraded shares of TechnipFMC from a “buy” rating to a “neutral” rating in a research note on Monday. Citigroup reiterated a “buy” rating and issued a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Sanford C. Bernstein cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a report on Thursday, May 22nd. Finally, Susquehanna raised their price objective on shares of TechnipFMC from $35.00 to $40.00 and gave the stock a “positive” rating in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and an average price target of $37.31.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $34.19 on Wednesday. The firm’s fifty day simple moving average is $32.84 and its 200-day simple moving average is $30.37. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.16 and a beta of 1.07. TechnipFMC plc has a 12 month low of $22.12 and a 12 month high of $35.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.84.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. As a group, equities analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. TechnipFMC’s payout ratio is currently 10.53%.

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.