TechnipFMC plc $FTI Stock: Yousif Capital Management LLC Lowers Holdings

Yousif Capital Management LLC lowered its stake in TechnipFMC plc (NYSE:FTI) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,687 shares of the oil and gas company’s stock after selling 8,702 shares during the quarter. Yousif Capital Management LLC’s holdings in TechnipFMC were worth $7,042,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in TechnipFMC during the 1st quarter valued at approximately $26,000. Coppell Advisory Solutions LLC bought a new stake in TechnipFMC during the 2nd quarter valued at $35,000. Ascentis Independent Advisors acquired a new position in TechnipFMC during the 1st quarter valued at about $37,000. Keating Financial Advisory Services Inc. purchased a new stake in TechnipFMC in the 2nd quarter valued at $37,000. Finally, Ameritas Advisory Services LLC purchased a new position in TechnipFMC during the 2nd quarter worth $44,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TechnipFMC

In other news, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This represents a 373.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the transaction, the insider directly owned 85,813 shares of the company’s stock, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on FTI shares. Weiss Ratings raised shares of TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 16th. Barclays cut their target price on TechnipFMC from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. Citigroup upped their target price on TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, UBS Group began coverage on TechnipFMC in a research report on Monday, October 12th. They set a “buy” rating and a $89.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of “Buy” and a consensus target price of $74.83.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $69.88 on Monday. The stock has a market cap of $27.40 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 1.12 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a 1-year low of $39.06 and a 1-year high of $80.70. The stock’s 50-day moving average is $73.19 and its 200 day moving average is $71.80.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that TechnipFMC plc will post 3.20 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

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.