Crossmark Global Holdings Inc. Has $6.07 Million Stock Position in TechnipFMC plc $FTI

Key Points

• Crossmark Global Holdings cut its TechnipFMC stake by 10.5% in the fourth quarter, selling 15,900 shares and leaving it with 136,168 shares valued at about $6.07 million.
• TechnipFMC reported better-than-expected earnings for the quarter, posting $0.64 per share versus the $0.57 consensus estimate, while revenue rose 11.6% year over year to $2.49 billion.
• The company announced a quarterly dividend of $0.05 per share, and analysts remain mostly positive after several price-target increases, with a consensus rating of Moderate Buy.

Crossmark Global Holdings Inc. reduced its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 10.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 136,168 shares of the oil and gas company's stock after selling 15,900 shares during the period. Crossmark Global Holdings Inc.'s holdings in TechnipFMC were worth $6,068,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC bought a new stake in TechnipFMC during the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. boosted its holdings in shares of TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TechnipFMC in the 4th quarter worth approximately $41,000. Finally, Torren Management LLC bought a new stake in TechnipFMC during the 4th quarter worth approximately $45,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Up 0.0%

Shares of FTI opened at $70.18 on Monday. The business's fifty day moving average price is $69.62 and its two-hundred day moving average price is $56.04. The firm has a market capitalization of $27.98 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.42 and a beta of 0.74. TechnipFMC plc has a 52 week low of $28.87 and a 52 week high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts predict that TechnipFMC plc will post 2.93 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, May 19th. TechnipFMC's payout ratio is currently 7.63%.

Insider Activity

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director owned 59,887 shares in the company, valued at $4,151,366.84. The trade was a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Landes sold 116,194 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the sale, the insider directly owned 71,356 shares of the company's stock, valued at approximately $4,438,343.20. This trade represents a 61.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,216,442 shares of company stock worth $75,762,414. Corporate insiders own 1.40% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on FTI. Barclays lifted their price objective on TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday. The Goldman Sachs Group raised their target price on TechnipFMC from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. UBS Group set a $70.00 price target on shares of TechnipFMC in a research report on Friday, February 20th. Finally, Piper Sandler increased their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.53.

TechnipFMC 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.