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

Allspring Global Investments Holdings LLC lessened its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 45.5% in the 1st quarter, according to its most recent 13F filing 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 quarter. 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.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTI. Ameriprise Financial Inc. grew its position in shares of TechnipFMC by 31.5% during 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 buying an additional 3,962,315 shares during the period. Norges Bank acquired a new stake in shares of TechnipFMC during the 4th quarter worth approximately $96,808,000. Anomaly Capital Management LP grew its position in shares of TechnipFMC by 46.5% during 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 buying an additional 2,306,342 shares during the period. AQR Capital Management LLC grew its position in shares of TechnipFMC by 70.6% during the 4th quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company's stock worth $119,602,000 after buying an additional 1,710,183 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of TechnipFMC by 4.1% during 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 buying an additional 1,623,864 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Royal Bank Of Canada reissued an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Monday, April 28th. Barclays lifted their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Citigroup reissued a "buy" rating and set a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday. Finally, Sanford C. Bernstein lowered shares of 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. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and an average price target of $37.31.

TechnipFMC Stock Performance

Shares of NYSE:FTI traded up $0.30 on Friday, hitting $35.66. The company had a trading volume of 2,475,816 shares, compared to its average volume of 4,115,574. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $35.86. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.21 and a beta of 1.07. The stock has a 50 day moving average price of $32.52 and a 200 day moving average price of $30.25. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17.

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

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were given a $0.05 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. TechnipFMC's payout ratio is presently 10.53%.

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.