Capital World Investors Sells 415 Shares of TechnipFMC plc (NYSE:FTI)

Capital World Investors lessened its stake in TechnipFMC plc (NYSE:FTI) by 0.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,385,630 shares of the oil and gas company’s stock after selling 415 shares during the period. Capital World Investors owned approximately 1.02% of TechnipFMC worth $110,123,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Whittier Trust Co. bought a new stake in TechnipFMC in the 1st quarter worth approximately $29,000. Johnson Financial Group Inc. bought a new stake in shares of TechnipFMC during the 4th quarter valued at $33,000. Quarry LP grew its position in shares of TechnipFMC by 76.6% during the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 768 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of TechnipFMC during the 4th quarter valued at $45,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of TechnipFMC by 367.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas company’s stock valued at $89,000 after acquiring an additional 2,790 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI traded up $0.49 during mid-day trading on Friday, hitting $28.87. 4,889,617 shares of the company’s stock traded hands, compared to its average volume of 3,669,934. The company’s 50-day moving average is $26.03 and its two-hundred day moving average is $24.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.87. The company has a market capitalization of $12.44 billion, a P/E ratio of 61.43 and a beta of 1.52. TechnipFMC plc has a 1 year low of $17.36 and a 1 year high of $29.24.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the company posted $0.10 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities analysts anticipate that TechnipFMC plc will post 1.2 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is currently 42.55%.

Insider Buying and Selling

In other TechnipFMC news, CAO David Light sold 5,928 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the transaction, the chief accounting officer now directly owns 11,534 shares in the company, valued at approximately $297,692.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FTI shares. Susquehanna boosted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday. Citigroup boosted their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler boosted their price objective on shares of TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. TD Cowen upped their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of TechnipFMC in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.62.

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.