Crossmark Global Holdings Inc. Buys 131,221 Shares of TechnipFMC plc $FTI

Crossmark Global Holdings Inc. grew its stake in shares of TechnipFMC plc (NYSE:FTI) by 629.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,068 shares of the oil and gas company’s stock after purchasing an additional 131,221 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in TechnipFMC were worth $5,999,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. AE Wealth Management LLC grew its holdings in TechnipFMC by 38.0% in the 3rd quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after acquiring an additional 50,593 shares during the last quarter. Lingohr Asset Management GmbH raised its stake in shares of TechnipFMC by 461.7% during the third quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock valued at $8,375,000 after acquiring an additional 174,500 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of TechnipFMC by 80.6% during the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after acquiring an additional 1,415,621 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of TechnipFMC by 25,468.9% during the third quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock worth $454,000 after purchasing an additional 11,461 shares during the period. Finally, New York State Common Retirement Fund grew its stake in shares of TechnipFMC by 8.4% in the third quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock worth $12,053,000 after purchasing an additional 23,600 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 6,350 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the transaction, the director owned 97,860 shares of the company’s stock, valued at approximately $6,400,044. This trade represents a 6.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Cowen restated a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. Susquehanna boosted their target price on TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a research note on Friday, February 20th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and upped their target price for the company from $49.00 to $62.00 in a report on Friday, February 20th. Finally, BMO Capital Markets raised their price target on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus price target of $58.47.

TechnipFMC Stock Performance

TechnipFMC stock opened at $62.93 on Friday. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $68.29. The stock’s 50 day simple moving average is $56.56 and its two-hundred day simple moving average is $46.35. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.20 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio is 8.66%.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.