Jennison Associates LLC Sells 172,335 Shares of TechnipFMC plc (NYSE:FTI)

Jennison Associates LLC reduced its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,158,169 shares of the oil and gas company's stock after selling 172,335 shares during the period. Jennison Associates LLC owned 0.51% of TechnipFMC worth $68,392,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FTI. T. Rowe Price Investment Management Inc. increased its holdings in TechnipFMC by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock valued at $1,220,288,000 after purchasing an additional 365,527 shares during the period. Vanguard Group Inc. raised its holdings in shares of TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after purchasing an additional 1,623,864 shares during the period. Ameriprise Financial Inc. boosted its position in TechnipFMC by 31.5% during the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after purchasing an additional 3,962,315 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of TechnipFMC by 2.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company's stock valued at $315,381,000 after purchasing an additional 202,599 shares during the period. Finally, Anomaly Capital Management LP increased its holdings in TechnipFMC by 46.5% during the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after acquiring an additional 2,306,342 shares during the period. Institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $40.00 and gave the company a "positive" rating in a report on Tuesday, July 1st. Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research note on Thursday, May 22nd. Finally, Barclays lifted their price target on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and an average price target of $37.31.

TechnipFMC Price Performance

FTI stock traded down $0.52 during trading on Monday, hitting $32.22. 1,579,590 shares of the stock traded hands, compared to its average volume of 4,131,623. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.10 and a beta of 1.07. 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 one year low of $22.12 and a one year high of $35.86. The company has a 50 day simple moving average of $33.04 and a 200 day simple moving average of $30.46.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. Equities analysts expect 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 issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.62%. TechnipFMC's payout ratio is currently 10.53%.

TechnipFMC Company 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.