TechnipFMC plc $FTI Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lowered its position in shares of TechnipFMC plc (NYSE:FTI) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 472,380 shares of the oil and gas company’s stock after selling 56,229 shares during the quarter. Thornburg Investment Management Inc.’s holdings in TechnipFMC were worth $18,635,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. AE Wealth Management LLC boosted its holdings in TechnipFMC by 38.0% in the third quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after purchasing an additional 50,593 shares during the period. Lingohr Asset Management GmbH raised its holdings in shares of TechnipFMC by 461.7% during the third quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock worth $8,375,000 after purchasing an additional 174,500 shares during the period. Bank of New York Mellon Corp lifted its position in shares of TechnipFMC by 80.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after buying an additional 1,415,621 shares during the last quarter. Rothschild Investment LLC lifted its position in shares of TechnipFMC by 25,468.9% in the 3rd quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock worth $454,000 after buying an additional 11,461 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of TechnipFMC by 8.4% in the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after buying an additional 23,600 shares during the period. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

FTI has been the topic of several research reports. Citigroup increased their price objective on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and upped their target price for the company from $49.00 to $62.00 in a report on Friday, February 20th. Jefferies Financial Group raised their price target on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Susquehanna boosted their price objective on TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada upped their price objective on TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.93.

Insiders Place Their Bets

In related news, Director Carvalho Filho Eleazar De sold 6,350 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total value of $415,290.00. Following the completion of the transaction, the director owned 97,860 shares in the company, valued at $6,400,044. This represents a 6.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $66.12 on Thursday. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $66.41. The company has a market cap of $26.45 billion, a PE ratio of 28.62, a P/E/G ratio of 1.25 and a beta of 0.69. The stock has a 50 day simple moving average of $53.61 and a 200-day simple moving average of $44.93. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, March 17th. TechnipFMC’s payout ratio is currently 8.66%.

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.