Los Angeles Capital Management LLC Sells 287,423 Shares of TechnipFMC plc (NYSE:FTI)

Los Angeles Capital Management LLC reduced its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 28.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 733,073 shares of the oil and gas company's stock after selling 287,423 shares during the period. Los Angeles Capital Management LLC owned 0.17% of TechnipFMC worth $23,231,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FTI. HighTower Advisors LLC lifted its stake in TechnipFMC by 39.1% in the 4th quarter. HighTower Advisors LLC now owns 33,090 shares of the oil and gas company's stock valued at $958,000 after purchasing an additional 9,296 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of TechnipFMC by 49.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,206 shares of the oil and gas company's stock valued at $411,000 after purchasing an additional 4,684 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of TechnipFMC by 336.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 35,266 shares of the oil and gas company's stock valued at $1,021,000 after purchasing an additional 27,190 shares in the last quarter. Xponance Inc. raised its position in TechnipFMC by 24.4% in the fourth quarter. Xponance Inc. now owns 20,221 shares of the oil and gas company's stock worth $585,000 after acquiring an additional 3,960 shares during the period. Finally, Teacher Retirement System of Texas raised its position in TechnipFMC by 35.1% in the fourth quarter. Teacher Retirement System of Texas now owns 273,853 shares of the oil and gas company's stock worth $7,925,000 after acquiring an additional 71,168 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Price Performance

FTI stock traded up $0.22 during midday trading on Tuesday, reaching $32.41. The stock had a trading volume of 6,003,055 shares, compared to its average volume of 4,150,001. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $35.86. The company has a market cap of $13.59 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.10 and a beta of 1.07. The company's fifty day simple moving average is $33.04 and its 200 day simple moving average is $30.46. 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 (NYSE:FTI - Get Free Report) last posted its earnings results 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 business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. TechnipFMC's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. As a group, sell-side analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. TechnipFMC's dividend payout ratio is currently 10.53%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FTI. Wall Street Zen lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Royal Bank Of Canada reissued an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Monday, April 28th. Sanford C. Bernstein downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a research report on Thursday, May 22nd. Citigroup reissued a "buy" rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Finally, Susquehanna increased their price objective on shares of TechnipFMC from $35.00 to $40.00 and gave the stock a "positive" rating in a research note on Tuesday, July 1st. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.31.

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.