Intech Investment Management LLC lowered its stake in shares of TechnipFMC plc (NYSE:FTI – Free Report) by 27.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,813 shares of the oil and gas company’s stock after selling 8,532 shares during the period. Intech Investment Management LLC’s holdings in TechnipFMC were worth $1,017,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new stake in shares of TechnipFMC during the 4th quarter valued at $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC during the 4th quarter valued at $41,000. Torren Management LLC purchased a new stake in shares of TechnipFMC during the 4th quarter valued at $45,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.
TechnipFMC Stock Performance
Shares of FTI stock opened at $66.76 on Monday. The firm has a market capitalization of $26.62 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. 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 business has a fifty day moving average of $71.66 and a 200 day moving average of $60.36. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78.
TechnipFMC Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors 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 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 7.63%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on FTI. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and increased their price objective for the company from $49.00 to $62.00 in a report on Friday, February 20th. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Wednesday, May 6th. Finally, UBS Group set a $80.00 price objective on TechnipFMC in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.71.
Check Out Our Latest Research Report on TechnipFMC
Insiders Place Their Bets
In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director owned 59,887 shares in the company, valued at $4,151,366.84. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alf Melin sold 43,554 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total value of $2,749,564.02. Following the completion of the transaction, the chief financial officer owned 238,983 shares of the company’s stock, valued at $15,086,996.79. This trade represents a 15.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.40% of the company’s stock.
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.
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