LPL Financial LLC Sells 1,431 Shares of TechnipFMC plc (NYSE:FTI)

LPL Financial LLC lessened its holdings in shares of TechnipFMC plc (NYSE:FTI) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 408,190 shares of the oil and gas company’s stock after selling 1,431 shares during the quarter. LPL Financial LLC owned about 0.10% of TechnipFMC worth $12,936,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new position in TechnipFMC in the 4th quarter worth approximately $239,000. Envestnet Asset Management Inc. grew its position in shares of TechnipFMC by 123.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 714,533 shares of the oil and gas company’s stock worth $20,679,000 after buying an additional 394,790 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of TechnipFMC by 51.3% in the 4th quarter. Russell Investments Group Ltd. now owns 747,697 shares of the oil and gas company’s stock worth $21,638,000 after buying an additional 253,519 shares during the last quarter. Bank of Nova Scotia bought a new stake in shares of TechnipFMC in the 4th quarter worth approximately $22,784,000. Finally, Renaissance Technologies LLC grew its position in shares of TechnipFMC by 233.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,083,500 shares of the oil and gas company’s stock worth $31,356,000 after buying an additional 758,400 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI opened at $35.13 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $34.40 and a two-hundred day simple moving average of $30.80. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.17 and a beta of 1.04. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $38.05.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the business posted $0.43 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. TechnipFMC’s dividend payout ratio (DPR) is currently 9.43%.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the sale, the director owned 62,978 shares in the company, valued at approximately $2,337,743.36. This trade represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BTIG Research lowered TechnipFMC from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Royal Bank Of Canada lifted their price objective on TechnipFMC from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Barclays lifted their price target on TechnipFMC from $45.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein lowered TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and an average price target of $38.92.

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.