SIR Capital Management L.P. Sells 109,443 Shares of TechnipFMC plc (NYSE:FTI)

SIR Capital Management L.P. lessened its holdings in shares of TechnipFMC plc (NYSE:FTI) by 70.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,157 shares of the oil and gas company’s stock after selling 109,443 shares during the quarter. SIR Capital Management L.P.’s holdings in TechnipFMC were worth $1,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC raised its holdings in shares of TechnipFMC by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 357 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of TechnipFMC by 3.3% during the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock worth $334,000 after acquiring an additional 363 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of TechnipFMC by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 423 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 525 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 563 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Down 0.1%

NYSE FTI opened at $31.46 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $28.00 and its two-hundred day moving average is $29.22. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 20.70 and a beta of 0.98.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. Equities analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.53%.

Insider Activity at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at $3,722,495.85. The trade was a 23.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 over the last ninety days. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FTI. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Piper Sandler boosted their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Barclays upped their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, Susquehanna decreased their price target on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and an average price target of $36.83.

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.