TechnipFMC plc $FTI Holdings Lowered by TD Asset Management Inc

TD Asset Management Inc trimmed its stake in shares of TechnipFMC plc (NYSE:FTI) by 20.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,295,768 shares of the oil and gas company’s stock after selling 337,470 shares during the period. TD Asset Management Inc’s holdings in TechnipFMC were worth $57,739,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTI. State Street Corp raised its holdings in shares of TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after purchasing an additional 4,938,498 shares in the last quarter. Norges Bank bought a new stake in shares of TechnipFMC in the 4th quarter worth approximately $205,468,000. AQR Capital Management LLC raised its holdings in shares of TechnipFMC by 34.0% in the 3rd quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after purchasing an additional 3,378,159 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of TechnipFMC by 184.0% in the 3rd quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock worth $189,460,000 after purchasing an additional 3,111,399 shares in the last quarter. Finally, Danske Bank A S bought a new stake in shares of TechnipFMC in the 3rd quarter worth approximately $52,848,000. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FTI. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday. Barclays boosted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.71.

TechnipFMC Stock Down 3.3%

FTI stock opened at $66.76 on Friday. TechnipFMC plc has a 52-week low of $31.88 and a 52-week high of $77.78. The company’s 50 day simple moving average is $71.66 and its 200-day simple moving average is $60.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The firm has a market capitalization of $26.62 billion, a P/E ratio of 25.48, a P/E/G ratio of 1.48 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s payout ratio is currently 7.63%.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the sale, the director owned 59,887 shares in the company, valued at $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David Light sold 6,622 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $413,411.46. Following the sale, the chief accounting officer owned 5,005 shares in the company, valued at $312,462.15. This represents a 56.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,210,092 shares of company stock valued at $75,347,124 over the last three months. 1.40% of the stock is owned by insiders.

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.