Bessemer Group Inc. Sells 78,435 Shares of TechnipFMC plc (NYSE:FTI)

Bessemer Group Inc. reduced its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 64.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,466 shares of the oil and gas company's stock after selling 78,435 shares during the quarter. Bessemer Group Inc.'s holdings in TechnipFMC were worth $1,378,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 525 shares in the last quarter. Foundry Partners LLC raised its stake in TechnipFMC by 4.4% in the fourth quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company's stock valued at $394,000 after purchasing an additional 577 shares in the last quarter. GAMMA Investing LLC raised its stake in TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after purchasing an additional 614 shares in the last quarter. Baker Tilly Wealth Management LLC raised its stake in TechnipFMC by 7.7% in the first quarter. Baker Tilly Wealth Management LLC now owns 9,238 shares of the oil and gas company's stock valued at $293,000 after purchasing an additional 657 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in TechnipFMC by 1.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 93,396 shares of the oil and gas company's stock valued at $2,703,000 after purchasing an additional 997 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FTI shares. Susquehanna decreased their target price on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a report on Friday. Barclays boosted their price target on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Royal Bank Of Canada restated an "outperform" rating and set a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Finally, Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and an average price target of $36.46.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $34.57 on Monday. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 1.19 and a beta of 1.06. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $35.71. The stock's 50-day moving average is $31.15 and its 200 day moving average is $29.92.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the prior year, the business posted $0.22 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.58%. TechnipFMC's dividend payout ratio is presently 10.53%.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.

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