Allspring Global Investments Holdings LLC Sells 26,192 Shares of TechnipFMC plc (NYSE:FTI)

Allspring Global Investments Holdings LLC cut its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 45.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,400 shares of the oil and gas company's stock after selling 26,192 shares during the period. Allspring Global Investments Holdings LLC's holdings in TechnipFMC were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 525 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC during the fourth quarter worth about $46,000. EverSource Wealth Advisors LLC lifted its holdings in TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after acquiring an additional 1,338 shares in the last quarter. Westpac Banking Corp bought a new position in TechnipFMC during the fourth quarter worth about $55,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in TechnipFMC by 106.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,031 shares of the oil and gas company's stock worth $59,000 after acquiring an additional 1,047 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FTI. Barclays boosted their price target on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Susquehanna lifted their target price on TechnipFMC from $35.00 to $40.00 and gave the company a "positive" rating in a research report on Tuesday, July 1st. Wall Street Zen lowered TechnipFMC from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Monday, April 28th. Finally, Sanford C. Bernstein lowered TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus price target of $36.85.

TechnipFMC Stock Down 0.8%

Shares of NYSE:FTI traded down $0.28 during midday trading on Thursday, reaching $34.89. The company had a trading volume of 366,270 shares, compared to its average volume of 4,107,302. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The business's 50 day moving average price is $32.40 and its 200 day moving average price is $30.20. The stock has a market cap of $14.63 billion, a PE ratio of 18.36, a P/E/G ratio of 1.21 and a beta of 1.07. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $35.91.

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

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's dividend payout ratio (DPR) is presently 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.