TechnipFMC plc (NYSE:FTI) Shares Sold by Allworth Financial LP

Allworth Financial LP decreased its stake in TechnipFMC plc (NYSE:FTI) by 27.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,518 shares of the oil and gas company’s stock after selling 932 shares during the quarter. Allworth Financial LP’s holdings in TechnipFMC were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in TechnipFMC during the 1st quarter valued at $33,000. EverSource Wealth Advisors LLC boosted its holdings in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,338 shares during the period. Westpac Banking Corp acquired a new position in TechnipFMC in the 4th quarter valued at $55,000. Quarry LP raised its holdings in shares of TechnipFMC by 95.9% during the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company’s stock worth $74,000 after buying an additional 1,248 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock valued at $91,000 after purchasing an additional 614 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $32.67 on Friday. The firm has a market capitalization of $13.70 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.11 and a beta of 1.07. The firm’s 50 day moving average is $32.98 and its two-hundred day moving average is $30.42. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. TechnipFMC plc has a 52 week low of $22.12 and a 52 week high of $35.86.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date was Tuesday, May 20th. TechnipFMC’s payout ratio is currently 10.53%.

Analyst Ratings Changes

Several research firms have recently commented on FTI. Sanford C. Bernstein downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a report on Thursday, May 22nd. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Barclays increased their target price on TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Susquehanna lifted their price objective on TechnipFMC from $35.00 to $40.00 and gave the stock a “positive” rating in a report on Tuesday, July 1st. Finally, Citigroup restated a “buy” rating and set a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Four 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’s stock. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $37.31.

TechnipFMC Company 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.