Engineers Gate Manager LP Sells 28,465 Shares of TechnipFMC plc $FTI

Engineers Gate Manager LP lessened its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 24.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,330 shares of the oil and gas company's stock after selling 28,465 shares during the quarter. Engineers Gate Manager LP's holdings in TechnipFMC were worth $5,724,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FTI. V Square Quantitative Management LLC acquired a new stake in TechnipFMC during the 1st quarter worth approximately $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC during the third quarter valued at $32,000. Coppell Advisory Solutions LLC bought a new position in shares of TechnipFMC during the second quarter valued at $35,000. Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 340 shares during the period. Finally, Ascentis Independent Advisors acquired a new position in shares of TechnipFMC during the first quarter worth $37,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Up 1.0%

TechnipFMC stock opened at $76.37 on Friday. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.70. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.51 and a beta of 0.74. The firm's fifty day moving average price is $74.55 and its two-hundred day moving average price is $71.04. 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 (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities research analysts predict that TechnipFMC plc will post 3.17 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FTI. Susquehanna decreased their price objective on TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. Wall Street Zen lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Citigroup boosted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.64.

Insider Activity at TechnipFMC

In related news, Director Eric Mullins bought 6,365 shares of the company's stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares of the company's stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

TechnipFMC Company 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.

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