Amundi Reduces Stock Holdings in TechnipFMC plc $FTI

Amundi trimmed its position in shares of TechnipFMC plc (NYSE:FTI) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,134,988 shares of the oil and gas company’s stock after selling 142,623 shares during the quarter. Amundi owned 0.52% of TechnipFMC worth $73,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FTI. Ameriprise Financial Inc. grew its holdings in shares of TechnipFMC by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock worth $571,583,000 after purchasing an additional 1,492,746 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in TechnipFMC by 1.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,141,701 shares of the oil and gas company’s stock valued at $349,280,000 after buying an additional 189,637 shares during the period. Boston Partners grew its stake in TechnipFMC by 267.5% in the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock worth $333,041,000 after acquiring an additional 7,038,640 shares in the last quarter. AQR Capital Management LLC increased its position in shares of TechnipFMC by 111.4% during the first quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock worth $273,078,000 after acquiring an additional 4,602,939 shares during the period. Finally, Invesco Ltd. raised its stake in shares of TechnipFMC by 18.0% during the first quarter. Invesco Ltd. now owns 7,458,847 shares of the oil and gas company’s stock valued at $236,371,000 after acquiring an additional 1,136,554 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In related news, insider Thierry Conti sold 50,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the transaction, the insider directly owned 56,352 shares in the company, valued at approximately $2,177,441.28. The trade was a 47.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total value of $4,392,273.60. Following the transaction, the chief financial officer owned 241,140 shares in the company, valued at approximately $9,310,415.40. The trade was a 32.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 876,603 shares of company stock worth $33,832,588. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on FTI. JPMorgan Chase & Co. raised their price target on TechnipFMC from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. Finally, Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $46.00.

TechnipFMC Stock Performance

NYSE FTI opened at $45.30 on Tuesday. The firm has a market capitalization of $18.33 billion, a P/E ratio of 20.23, a PEG ratio of 1.09 and a beta of 0.68. The stock has a 50-day simple moving average of $41.31 and a two-hundred day simple moving average of $37.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $47.33.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 22nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, November 18th. TechnipFMC’s dividend payout ratio is currently 8.93%.

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.