Shayne & Jacobs LLC Has $10.62 Million Holdings in TechnipFMC plc $FTI

Shayne & Jacobs LLC decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,635 shares of the oil and gas company’s stock after selling 14,035 shares during the quarter. TechnipFMC makes up about 3.3% of Shayne & Jacobs LLC’s holdings, making the stock its 6th biggest position. Shayne & Jacobs LLC’s holdings in TechnipFMC were worth $10,621,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in TechnipFMC in the first quarter worth $26,000. Harbor Investment Advisory LLC bought a new position in TechnipFMC during the fourth quarter valued at about $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC in the third quarter worth about $32,000. Geneos Wealth Management Inc. lifted its position in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the last quarter. Finally, Ascentis Independent Advisors bought a new stake in shares of TechnipFMC during the 1st quarter worth about $37,000. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Evercore reaffirmed an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Piper Sandler lifted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Finally, Susquehanna boosted their price objective on shares of TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research note on Friday, May 1st. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.00.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded up $0.38 during trading on Tuesday, reaching $67.64. The company’s stock had a trading volume of 1,337,579 shares, compared to its average volume of 4,414,370. TechnipFMC plc has a one year low of $31.88 and a one year high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a market cap of $26.97 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.70. The business’s fifty day moving average price is $69.73 and its 200-day moving average price is $63.58.

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

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a $0.05 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

About TechnipFMC

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.