Rhumbline Advisers Cuts Holdings in TechnipFMC plc (NYSE:FTI)

Rhumbline Advisers lowered its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 398,567 shares of the oil and gas company's stock after selling 8,276 shares during the period. Rhumbline Advisers owned about 0.10% of TechnipFMC worth $12,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Yousif Capital Management LLC grew its holdings in shares of TechnipFMC by 4.6% in the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company's stock valued at $236,000 after acquiring an additional 357 shares in the last quarter. Sigma Planning Corp grew its stake in TechnipFMC by 3.3% in the fourth quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company's stock valued at $334,000 after purchasing an additional 363 shares in the last quarter. Smartleaf Asset Management LLC grew 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 purchasing an additional 525 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after purchasing an additional 563 shares during the last quarter. Finally, Foundry Partners LLC raised its stake in shares of TechnipFMC by 4.4% during the 4th quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company's stock worth $394,000 after purchasing an additional 577 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

FTI stock traded up $0.71 during midday trading on Tuesday, reaching $32.93. 4,120,643 shares of the company's stock traded hands, compared to its average volume of 4,030,877. The firm has a market capitalization of $13.81 billion, a PE ratio of 21.66 and a beta of 1.06. The company has a 50-day moving average price of $28.54 and a two-hundred day moving average price of $29.57. TechnipFMC plc has a 52 week low of $22.12 and a 52 week high of $33.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter last year, the business posted $0.22 EPS. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.61%. TechnipFMC's dividend payout ratio is currently 10.53%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. 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 research note on Thursday, May 22nd. Barclays lifted their price target on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Susquehanna dropped their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus price target of $36.46.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the transaction, the director now directly owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. The trade was a 8.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. The trade was a 23.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

About TechnipFMC

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.