TechnipFMC plc $FTI Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its TechnipFMC position by 99.1% in the second quarter, selling 1.33 million shares and retaining 11,711 shares worth approximately $776,000. Institutional investors and hedge funds still own 96.58% of FTI.
• Analysts maintain a generally positive outlook, with TechnipFMC receiving a consensus “Moderate Buy” rating and an average price target of $69.64. Recent actions included a Goldman Sachs “Buy” reaffirmation and Citigroup raising its target to $80, while Susquehanna lowered its target to $85.
• TechnipFMC reported quarterly earnings of $0.91 per share, beating estimates of $0.80, while revenue rose 9% year over year to $2.76 billion. Director Eric Mullins also purchased nearly $500,000 of company stock, and the firm declared a quarterly dividend of $0.05 per share.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 99.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,711 shares of the oil and gas company's stock after selling 1,329,480 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in TechnipFMC were worth $776,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nissay Asset Management Corp Japan acquired a new position in TechnipFMC during the 2nd quarter worth $3,573,000. Navellier & Associates Inc. increased its position in TechnipFMC by 13.2% in the second quarter. Navellier & Associates Inc. now owns 107,345 shares of the oil and gas company's stock worth $7,117,000 after buying an additional 12,517 shares during the period. Hsbc Holdings PLC increased its position in TechnipFMC by 6,381.4% in the second quarter. Hsbc Holdings PLC now owns 1,293,755 shares of the oil and gas company's stock worth $85,819,000 after buying an additional 1,273,794 shares during the period. Wellington Management Group LLP lifted its stake in TechnipFMC by 28.4% in the second quarter. Wellington Management Group LLP now owns 788,158 shares of the oil and gas company's stock valued at $52,255,000 after buying an additional 174,339 shares during the last quarter. Finally, Archer Investment Corp acquired a new position in shares of TechnipFMC during the second quarter valued at $252,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FTI shares. Weiss Ratings upgraded shares of TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday. Susquehanna cut their price target on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. The Goldman Sachs Group reissued a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Citigroup raised their target price on TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Finally, UBS Group set a $80.00 price target on TechnipFMC in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC currently has a consensus rating of "Moderate Buy" and an average target price of $69.64.

Insider Activity

In related news, Director Eric Mullins purchased 6,365 shares of the company's stock in a transaction on Friday, August 14th. The shares were bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares of the company's stock, valued at approximately $633,898.50. This represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company's stock.

TechnipFMC Stock Up 0.0%

Shares of FTI stock opened at $76.37 on Monday. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The business's fifty day moving average is $74.55 and its 200-day moving average is $71.09. The stock has a market cap of $29.95 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company's revenue was up 9.0% on a year-over-year basis. Equities analysts expect that TechnipFMC plc will post 3.17 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were given a $0.05 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC's payout ratio is 6.94%.

TechnipFMC Profile

TechnipFMC plc NYSE: FTI is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.

The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.

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