Natixis Advisors LLC Sells 76,842 Shares of TechnipFMC plc (NYSE:FTI)

Key Points

• Natixis Advisors LLC sold 76,842 shares of TechnipFMC plc, reducing their stake by 39.5%, leaving them with 117,600 shares valued at approximately $3.73 million.
• Several analysts raised their price targets for TechnipFMC, with Royal Bank of Canada increasing it from $37.00 to $40.00, indicating a positive forecast for the company's performance.
• TechnipFMC recently announced a quarterly dividend of $0.05 per share, translating to an annualized dividend of $0.20 and a dividend yield of 0.6%.

Natixis Advisors LLC lessened its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 39.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,600 shares of the oil and gas company's stock after selling 76,842 shares during the period. Natixis Advisors LLC's holdings in TechnipFMC were worth $3,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FTI. Federated Hermes Inc. lifted its stake in shares of TechnipFMC by 54.4% in the first quarter. Federated Hermes Inc. now owns 183,907 shares of the oil and gas company's stock worth $5,828,000 after acquiring an additional 64,793 shares during the period. Norden Group LLC lifted its stake in shares of TechnipFMC by 9.3% in the first quarter. Norden Group LLC now owns 31,406 shares of the oil and gas company's stock worth $995,000 after acquiring an additional 2,682 shares during the period. TCW Group Inc. lifted its stake in shares of TechnipFMC by 18.8% in the first quarter. TCW Group Inc. now owns 473,491 shares of the oil and gas company's stock worth $15,005,000 after acquiring an additional 74,869 shares during the period. TD Asset Management Inc lifted its stake in TechnipFMC by 1.3% in the first quarter. TD Asset Management Inc now owns 2,286,262 shares of the oil and gas company's stock valued at $72,452,000 after buying an additional 29,874 shares during the period. Finally, Cetera Investment Advisers lifted its stake in TechnipFMC by 35.7% in the first quarter. Cetera Investment Advisers now owns 37,090 shares of the oil and gas company's stock valued at $1,175,000 after buying an additional 9,762 shares during the period. Institutional investors own 96.58% of the company's stock.

TechnipFMC Price Performance

Shares of NYSE:FTI traded down $0.18 on Friday, hitting $34.94. The company's stock had a trading volume of 1,847,145 shares, compared to its average volume of 4,619,238. The company has a 50-day simple moving average of $34.47 and a 200 day simple moving average of $30.82. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The company has a market capitalization of $14.36 billion, a PE ratio of 16.48, a PEG ratio of 1.16 and a beta of 1.04. 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 released its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter last year, the firm posted $0.43 EPS. The company's revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. TechnipFMC's dividend payout ratio (DPR) is presently 9.43%.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the transaction, the director directly owned 62,978 shares in the company, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FTI shares. Barclays boosted their price objective on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target for the company. in a report on Thursday, May 22nd. Citigroup reiterated a "buy" rating and set a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Susquehanna upped their price target on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada upped their price target on TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.