Mesirow Institutional Investment Management Inc. Sells 72,429 Shares of TechnipFMC plc (NYSE:FTI)

Mesirow Institutional Investment Management Inc. lessened its holdings in shares of TechnipFMC plc (NYSE:FTI) by 12.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 510,480 shares of the oil and gas company’s stock after selling 72,429 shares during the quarter. Mesirow Institutional Investment Management Inc. owned approximately 0.12% of TechnipFMC worth $13,349,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after purchasing an additional 3,259,348 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of TechnipFMC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after acquiring an additional 134,880 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of TechnipFMC by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock valued at $70,864,000 after acquiring an additional 85,451 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in TechnipFMC by 868.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after purchasing an additional 2,808,618 shares during the period. Finally, Norges Bank acquired a new position in TechnipFMC during the fourth quarter valued at approximately $61,570,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Ratings Changes

FTI has been the topic of a number of research analyst reports. Susquehanna raised their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Citigroup lifted their price objective on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $29.38.

TechnipFMC Stock Down 5.0 %

Shares of FTI opened at $25.49 on Wednesday. The company has a market capitalization of $10.92 billion, a P/E ratio of 54.23 and a beta of 1.52. TechnipFMC plc has a one year low of $18.33 and a one year high of $29.85. The business’s 50 day simple moving average is $26.88 and its 200-day simple moving average is $25.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts predict that TechnipFMC plc will post 1.34 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.78%. TechnipFMC’s payout ratio is 42.55%.

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.