Russell Investments Group Ltd. Reduces Holdings in TechnipFMC plc (NYSE:FTI)

Russell Investments Group Ltd. lessened its position in shares of TechnipFMC plc (NYSE:FTI) by 13.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 645,673 shares of the oil and gas company’s stock after selling 102,024 shares during the period. Russell Investments Group Ltd. owned 0.15% of TechnipFMC worth $20,461,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in TechnipFMC by 31.5% during the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company’s stock worth $478,620,000 after purchasing an additional 3,962,315 shares in the last quarter. Anomaly Capital Management LP lifted its holdings in TechnipFMC by 46.5% during the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company’s stock worth $210,295,000 after purchasing an additional 2,306,342 shares in the last quarter. Nuveen LLC purchased a new stake in TechnipFMC during the 1st quarter worth about $64,217,000. AQR Capital Management LLC lifted its holdings in TechnipFMC by 70.6% during the 4th quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company’s stock worth $119,602,000 after purchasing an additional 1,710,183 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in TechnipFMC by 92.5% during the 4th quarter. Deutsche Bank AG now owns 2,777,040 shares of the oil and gas company’s stock worth $80,368,000 after purchasing an additional 1,334,555 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FTI. Sanford C. Bernstein cut TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a report on Thursday, May 22nd. Susquehanna increased their price objective on TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Citigroup reissued a “buy” rating and set a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Royal Bank Of Canada increased their price objective on TechnipFMC from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Barclays upped their target price on TechnipFMC from $45.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.92.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the sale, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. This represents a 12.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $35.01 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $14.39 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.15 and a beta of 1.04. The business’s 50-day moving average price is $34.80 and its 200-day moving average price is $30.96. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $38.05.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS. Sell-side analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 annualized dividend and a yield of 0.6%. TechnipFMC’s dividend payout ratio is currently 9.43%.

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.