14,440 TechnipFMC plc $FTI Shares Sold by Shayne & Jacobs LLC

Key Points

• Shayne & Jacobs LLC reduced its TechnipFMC stake by 9.6%, selling 14,440 shares in the third quarter and retaining 136,315 shares valued at approximately $9.26 million. Institutional investors collectively own 96.58% of FTI.
• TechnipFMC reported quarterly earnings of $0.91 per share, exceeding estimates of $0.80, while revenue rose 9% year over year to $2.76 billion. Analysts maintain an overall “Buy” rating, with an average price target of $74.83.
• The company declared a quarterly dividend of $0.05 per share, equivalent to an annualized $0.20 dividend and a 0.3% yield. Recent insider activity included a director’s purchase of 6,365 shares and an executive’s sale of 6,000 shares under a Rule 10b5-1 plan.

Shayne & Jacobs LLC cut its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 9.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 biggest position. Shayne & Jacobs LLC's holdings in TechnipFMC were worth $9,259,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FTI. AMG Asset Management Group Inc. acquired a new stake in TechnipFMC during the third quarter worth about $242,000. Crossmark Global Holdings Inc. boosted its holdings in TechnipFMC by 5.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 167,964 shares of the oil and gas company's stock valued at $11,408,000 after purchasing an additional 9,120 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of TechnipFMC by 1.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 13,427 shares of the oil and gas company's stock valued at $950,000 after buying an additional 249 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of TechnipFMC by 18.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 12,829 shares of the oil and gas company's stock valued at $871,000 after buying an additional 2,036 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of TechnipFMC by 71.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 580,140 shares of the oil and gas company's stock valued at $39,403,000 after buying an additional 242,031 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In other news, Director Eric D. Mullins purchased 6,365 shares of the firm's stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director directly 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 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 on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the transaction, the insider owned 85,813 shares in the company, valued at $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.

TechnipFMC Trading Up 1.6%

NYSE FTI opened at $70.05 on Thursday. 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 $27.47 billion, a P/E ratio of 24.32, a PEG ratio of 1.11 and a beta of 0.83. The firm's 50-day moving average is $73.57 and its two-hundred day moving average is $71.84. TechnipFMC plc has a 12 month low of $36.67 and a 12 month high of $80.70.

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

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC's dividend payout ratio (DPR) is 6.94%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FTI shares. Zacks Research upgraded shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th. Susquehanna decreased their price objective on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. Barclays lowered their price objective on TechnipFMC from $87.00 to $86.00 and set an "overweight" rating for the company in a research report on Thursday, October 15th. Weiss Ratings raised TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, October 16th. Finally, Citigroup lifted 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. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $74.83.

TechnipFMC Company Profile

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.

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