Shayne & Jacobs LLC lessened its holdings in TechnipFMC plc (NYSE:FTI – Free Report) by 9.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 136,315 shares of the oil and gas company’s stock after selling 14,440 shares during the quarter. TechnipFMC comprises approximately 2.8% of Shayne & Jacobs LLC’s investment portfolio, making the stock its 6th largest holding. Shayne & Jacobs LLC’s holdings in TechnipFMC were worth $9,259,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC acquired a new stake in TechnipFMC during the 2nd quarter worth $3,470,000. Chase Investment Counsel Corp purchased a new stake in TechnipFMC in the second quarter valued at $12,397,000. Globeflex Capital L P acquired a new position in TechnipFMC in the second quarter valued at $1,011,000. Proficio Capital Partners LLC acquired a new position in TechnipFMC in the second quarter valued at $1,301,000. Finally, Bank of America Corp DE purchased a new position in shares of TechnipFMC during the second quarter worth about $226,069,000. 96.58% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
FTI has been the topic of a number of research analyst reports. Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group started coverage on TechnipFMC in a report on Monday, October 12th. They issued a “buy” rating and a $89.00 target price for the company. Citigroup upped their target price on TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Barclays dropped their price target on TechnipFMC from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. Finally, Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, TechnipFMC currently has an average rating of “Buy” and an average price target of $74.83.
Check Out Our Latest Stock Report on TechnipFMC
TechnipFMC Stock Performance
Shares of FTI stock opened at $70.05 on Thursday. The stock’s 50-day moving average price is $73.57 and its 200 day moving average price is $71.84. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $27.47 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.11 and a beta of 0.83. TechnipFMC plc has a 52-week low of $36.67 and a 52-week high of $80.70.
TechnipFMC (NYSE:FTI – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that TechnipFMC plc will post 3.20 EPS for the current year.
TechnipFMC Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC’s dividend payout ratio is 6.94%.
Insider Activity at TechnipFMC
In other news, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares in the company, valued at $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins purchased 6,365 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.40% of the stock is owned by corporate insiders.
About TechnipFMC
TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.
TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.
Recommended Stories
- Five stocks we like better than TechnipFMC
- GM Beat and Added a $20 Billion Buyback—Why Did the Stock Fall?
- Intercepting Growth: Karman Secures $218M Lockheed Martin Deal
- Tech Stocks Took a Hit—These 2 Pharma Stocks Are Near New Highs
- Chip Stocks Have Pulled Back—Here’s How 3 Semiconductor ETFs Stack Up for Investors
Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechnipFMC plc (NYSE:FTI – Free Report).
Receive News & Ratings for TechnipFMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechnipFMC and related companies with MarketBeat.com's FREE daily email newsletter.
