Teacher Retirement System of Texas Sells 88,759 Shares of TechnipFMC plc (NYSE:FTI)

Teacher Retirement System of Texas decreased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 32.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 185,094 shares of the oil and gas company's stock after selling 88,759 shares during the period. Teacher Retirement System of Texas' holdings in TechnipFMC were worth $5,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its holdings in shares of TechnipFMC by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock worth $1,220,288,000 after acquiring an additional 365,527 shares during the period. Vanguard Group Inc. boosted its position in shares of TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of TechnipFMC by 31.5% in the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after purchasing an additional 3,962,315 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of TechnipFMC by 15.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock worth $282,150,000 after purchasing an additional 1,319,015 shares in the last quarter. Finally, Anomaly Capital Management LP boosted its position in shares of TechnipFMC by 46.5% in the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after purchasing an additional 2,306,342 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research report on Monday, April 28th. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Susquehanna upped their price objective on TechnipFMC from $35.00 to $40.00 and gave the company a "positive" rating in a research report on Tuesday, July 1st. Sanford C. Bernstein cut 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. Finally, Citigroup reaffirmed a "buy" rating on shares of TechnipFMC in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.85.

TechnipFMC Stock Performance

Shares of NYSE:FTI traded up $0.18 during midday trading on Thursday, hitting $35.35. The company had a trading volume of 2,778,170 shares, compared to its average volume of 4,455,167. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.84. The company has a market cap of $14.82 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.21 and a beta of 1.07. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $35.79. The company has a fifty day moving average of $32.40 and a two-hundred day moving average of $30.20.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the previous year, the firm earned $0.22 earnings per share. TechnipFMC's revenue was up 9.4% on a year-over-year basis. On average, equities research analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's payout ratio is currently 10.53%.

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.