TechnipFMC plc (NYSE:FTI) Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced its holdings in TechnipFMC by 3.3%, selling 563,676 shares and now owning approximately 3.88% of the company, valued at $516 million.
• Several hedge funds, including Diversify Advisory Services LLC and Acuitas Investments LLC, have increased their stakes in TechnipFMC in the first quarter.
• A recent earnings report revealed TechnipFMC beat consensus estimates with a reported EPS of $0.68 and a revenue of $2.53 billion, marking a 9.0% increase from the previous year.

JPMorgan Chase & Co. cut its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,282,943 shares of the oil and gas company's stock after selling 563,676 shares during the period. JPMorgan Chase & Co. owned 3.88% of TechnipFMC worth $516,006,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System bought a new stake in TechnipFMC in the 1st quarter valued at $33,000. Quarry LP increased its holdings in TechnipFMC by 95.9% in the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after acquiring an additional 1,248 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after acquiring an additional 2,219 shares during the last quarter. GAMMA Investing LLC increased its holdings in TechnipFMC by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after acquiring an additional 614 shares during the last quarter. Finally, Acuitas Investments LLC increased its holdings in TechnipFMC by 13.4% in the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock valued at $108,000 after acquiring an additional 400 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Insider Activity at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction on Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the transaction, the director owned 62,978 shares of the company's stock, valued at $2,337,743.36. The trade was a 12.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

TechnipFMC Stock Down 1.7%

Shares of NYSE FTI traded down $0.59 during midday trading on Friday, hitting $35.01. The company's stock had a trading volume of 2,983,507 shares, compared to its average volume of 4,004,726. The business's fifty day simple moving average is $34.80 and its two-hundred day simple moving average is $30.95. The firm has a market capitalization of $14.39 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.17 and a beta of 1.04. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, equities analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC's payout ratio is presently 9.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FTI shares. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research note on Thursday, May 22nd. Royal Bank Of Canada lifted their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Finally, Susquehanna lifted their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.92.

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.