TechnipFMC plc $FTI Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC reduced its holdings in shares of TechnipFMC plc (NYSE:FTI) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,191 shares of the oil and gas company’s stock after selling 10,118 shares during the quarter. NewEdge Advisors LLC’s holdings in TechnipFMC were worth $5,781,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. California State Teachers Retirement System boosted its position in TechnipFMC by 19,380.5% during the 2nd quarter. California State Teachers Retirement System now owns 91,624,346 shares of the oil and gas company’s stock worth $6,074,694,000 after purchasing an additional 91,154,007 shares during the period. BlackRock Inc. purchased a new position in TechnipFMC in the second quarter valued at about $3,081,514,000. Geode Capital Management LLC lifted its stake in shares of TechnipFMC by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock worth $337,714,000 after purchasing an additional 193,244 shares in the last quarter. Norges Bank acquired a new position in shares of TechnipFMC during the fourth quarter worth about $205,468,000. Finally, Amundi boosted its position in shares of TechnipFMC by 72.6% in the second quarter. Amundi now owns 4,358,115 shares of the oil and gas company’s stock worth $288,943,000 after buying an additional 1,832,581 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 4.4%

FTI opened at $72.95 on Tuesday. TechnipFMC plc has a 12-month low of $35.29 and a 12-month high of $80.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The stock has a market capitalization of $28.61 billion, a PE ratio of 25.33, a P/E/G ratio of 1.52 and a beta of 0.74. The firm’s fifty day moving average price is $74.67 and its 200 day moving average price is $71.14.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. As a group, research analysts expect that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC’s payout ratio is 6.94%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FTI shares. Weiss Ratings upgraded TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. Susquehanna dropped their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. UBS Group set a $80.00 target price on shares of TechnipFMC in a research note on Wednesday, June 3rd. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Citigroup boosted their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and an average price target of $69.64.

Insider Buying and Selling at TechnipFMC

In other news, Director Eric Mullins purchased 6,365 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

TechnipFMC Profile

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.

The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.