TechnipFMC plc (NYSE:FTI) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd cut its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 709,469 shares of the oil and gas company's stock after selling 103,547 shares during the period. Ninety One UK Ltd owned approximately 0.17% of TechnipFMC worth $22,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in FTI. New York State Teachers Retirement System purchased a new position in shares of TechnipFMC in the 1st quarter worth approximately $33,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of TechnipFMC in the fourth quarter worth $46,000. Smartleaf Asset Management LLC increased its stake in TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 525 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,338 shares during the last quarter. Finally, Westpac Banking Corp purchased a new stake in TechnipFMC during the fourth quarter valued at about $55,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on FTI shares. Susquehanna raised their price objective on shares of TechnipFMC from $35.00 to $40.00 and gave the stock a "positive" rating in a report on Tuesday, July 1st. Barclays upped their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Wall Street Zen downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. Finally, Sanford C. Bernstein downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.85.

TechnipFMC Stock Performance

FTI traded down $0.16 on Wednesday, reaching $35.17. The stock had a trading volume of 2,431,562 shares, compared to its average volume of 4,117,269. The business's 50-day moving average price is $32.26 and its two-hundred day moving average price is $30.17. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $35.76. The company has a market cap of $14.74 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 1.19 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 (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. Sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, May 20th. TechnipFMC's dividend payout ratio (DPR) is presently 10.53%.

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.