TechnipFMC plc (NYSE:FTI) Holdings Lowered by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. has reduced its position in TechnipFMC plc by 8.3%, making it the firm's 10th largest holding, now comprising 1.5% of its portfolio.
• TechnipFMC recently reported $0.68 EPS for the quarter, exceeding analyst expectations and showing a year-over-year revenue increase of 9.0%.
• A quarterly dividend of $0.05 per share has been announced, equating to an annualized yield of 0.54%, with the ex-dividend date set for August 19th.

Ramirez Asset Management Inc. reduced its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,875 shares of the oil and gas company's stock after selling 20,429 shares during the period. TechnipFMC makes up about 1.5% of Ramirez Asset Management Inc.'s holdings, making the stock its 10th largest holding. Ramirez Asset Management Inc. owned about 0.05% of TechnipFMC worth $7,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of TechnipFMC by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company's stock valued at $46,360,000 after acquiring an additional 8,823 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of TechnipFMC in the first quarter valued at $205,000. Stephens Investment Management Group LLC raised its stake in shares of TechnipFMC by 0.8% in the first quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company's stock valued at $109,001,000 after acquiring an additional 27,884 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of TechnipFMC in the first quarter valued at $33,000. Finally, Farther Finance Advisors LLC raised its stake in shares of TechnipFMC by 346.7% in the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after acquiring an additional 2,219 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FTI. Royal Bank Of Canada raised their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Susquehanna raised their price target on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.92.

TechnipFMC Stock Performance

Shares of NYSE FTI traded down $1.00 during midday trading on Friday, reaching $35.37. 1,807,085 shares of the company were exchanged, compared to its average volume of 4,519,308. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The stock has a fifty day simple moving average of $33.88 and a 200 day simple moving average of $30.70. The stock has a market cap of $14.54 billion, a P/E ratio of 16.66, a PEG ratio of 1.22 and a beta of 1.07.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the company earned $0.43 EPS. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, research analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, August 19th. TechnipFMC's payout ratio is currently 9.43%.

Insiders Place Their Bets

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the sale, the director owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. The trade was a 12.96% 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. Corporate insiders own 1.80% of the company's stock.

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.