TechnipFMC plc $FTI Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its stake in shares of TechnipFMC plc (NYSE:FTI) by 40.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,233 shares of the oil and gas company’s stock after selling 37,247 shares during the quarter. Sterling Capital Management LLC’s holdings in TechnipFMC were worth $3,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. bought a new position in TechnipFMC during the 4th quarter valued at $833,000. Harbor Capital Advisors Inc. bought a new stake in shares of TechnipFMC in the 4th quarter worth $641,000. Archford Capital Strategies LLC acquired a new stake in shares of TechnipFMC in the fourth quarter valued at $1,691,000. Danske Bank A S bought a new position in TechnipFMC during the third quarter valued at about $52,848,000. Finally, Farther Finance Advisors LLC boosted its stake in TechnipFMC by 394.3% during the fourth quarter. Farther Finance Advisors LLC now owns 11,848 shares of the oil and gas company’s stock valued at $528,000 after buying an additional 9,451 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Down 3.9%

Shares of TechnipFMC stock opened at $64.44 on Friday. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78. The firm has a market capitalization of $25.69 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $70.39 and its 200-day moving average is $62.59.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.TechnipFMC’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. Equities analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FTI shares. Barclays boosted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup lifted their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

TechnipFMC Company 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.