TechnipFMC plc (NYSE:FTI) Stake Reduced by Ethic Inc.

Ethic Inc. cut its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 89.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,830 shares of the oil and gas company's stock after selling 64,046 shares during the period. Ethic Inc.'s holdings in TechnipFMC were worth $227,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Deutsche Bank AG boosted its stake in shares of TechnipFMC by 92.5% during the 4th quarter. Deutsche Bank AG now owns 2,777,040 shares of the oil and gas company's stock worth $80,368,000 after purchasing an additional 1,334,555 shares during the period. Driehaus Capital Management LLC boosted its position in TechnipFMC by 19.5% in the 4th quarter. Driehaus Capital Management LLC now owns 1,687,435 shares of the oil and gas company's stock valued at $48,834,000 after buying an additional 275,709 shares during the period. Corigliano Investment Advisers LLC purchased a new stake in TechnipFMC in the 4th quarter valued at about $11,491,000. Crestline Management LP lifted its position in shares of TechnipFMC by 167.9% in the 4th quarter. Crestline Management LP now owns 30,491 shares of the oil and gas company's stock worth $882,000 after purchasing an additional 19,110 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in shares of TechnipFMC by 38.1% in the fourth quarter. Cubist Systematic Strategies LLC now owns 822,254 shares of the oil and gas company's stock worth $23,796,000 after acquiring an additional 226,853 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Down 0.6%

Shares of TechnipFMC stock traded down $0.18 during mid-day trading on Thursday, hitting $29.70. 2,471,379 shares of the stock were exchanged, compared to its average volume of 4,002,554. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 19.51 and a beta of 0.98. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $28.34 and a 200 day simple moving average of $29.34.

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 the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 earnings per share. Research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. TechnipFMC's payout ratio is currently 10.53%.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the transaction, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. This trade represents a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the sale, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. This represents a 57.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock worth $1,651,665 in the last three months. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FTI shares. Barclays lifted their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research report on Monday, April 28th. Susquehanna cut their price objective on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Sanford C. Bernstein downgraded shares of TechnipFMC from an "outperform" rating to a "market perform" rating and set a $32.00 price objective for the company. in a research report on Thursday. Finally, Wall Street Zen downgraded shares of TechnipFMC from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and a consensus price target of $36.46.

TechnipFMC Profile

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.