Swiss National Bank Sells 17,000 Shares of TechnipFMC plc (NYSE:FTI)

Swiss National Bank reduced its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,300 shares of the oil and gas company's stock after selling 17,000 shares during the period. Swiss National Bank owned 0.20% of TechnipFMC worth $26,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Diversify Advisory Services LLC grew its stake in TechnipFMC by 5.1% in the 1st quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company's stock valued at $238,000 after buying an additional 362 shares during the last quarter. Acuitas Investments LLC boosted its holdings in TechnipFMC by 13.4% during the first 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 period. KBC Group NV grew its position in shares of TechnipFMC by 2.4% in the first quarter. KBC Group NV now owns 18,129 shares of the oil and gas company's stock valued at $575,000 after purchasing an additional 429 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after purchasing an additional 614 shares during the period. Finally, Baker Tilly Wealth Management LLC lifted its position in shares of TechnipFMC by 7.7% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 9,238 shares of the oil and gas company's stock worth $293,000 after purchasing an additional 657 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

FTI has been the subject of several recent analyst reports. Barclays raised their target price on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Susquehanna increased their price objective on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Evercore ISI boosted their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Sanford C. Bernstein cut 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. Finally, Royal Bank Of Canada raised their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.92.

Insider Transactions at TechnipFMC

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

TechnipFMC Price Performance

NYSE FTI traded down $0.59 during trading on Friday, reaching $35.01. 2,983,507 shares of the company traded hands, compared to its average volume of 4,004,726. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $38.05. The company has a market cap of $14.39 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.17 and a beta of 1.04. The stock's 50 day moving average price is $34.80 and its two-hundred day moving average price is $30.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the prior year, the business posted $0.43 earnings per share. The business's revenue was up 9.0% compared to the same quarter last year. As a group, analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

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

TechnipFMC Company 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.