Vanguard Group Inc. Sells 272,292 Shares of TechnipFMC plc (NYSE:FTI)

Vanguard Group Inc. reduced its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,521,633 shares of the oil and gas company's stock after selling 272,292 shares during the period. Vanguard Group Inc. owned about 9.67% of TechnipFMC worth $1,284,131,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTI. SCP Investment LP lifted its holdings in TechnipFMC by 69.5% in the 1st quarter. SCP Investment LP now owns 55,600 shares of the oil and gas company's stock worth $1,762,000 after buying an additional 22,800 shares during the period. Bank of Nova Scotia lifted its stake in TechnipFMC by 23.4% in the first quarter. Bank of Nova Scotia now owns 971,141 shares of the oil and gas company's stock worth $30,775,000 after acquiring an additional 183,874 shares during the period. R Squared Ltd boosted its holdings in TechnipFMC by 95.8% in the first quarter. R Squared Ltd now owns 11,690 shares of the oil and gas company's stock valued at $370,000 after acquiring an additional 5,720 shares in the last quarter. Cumberland Partners Ltd purchased a new position in TechnipFMC during the 1st quarter valued at $951,000. Finally, Federated Hermes Inc. raised its holdings in TechnipFMC by 54.4% in the 1st quarter. Federated Hermes Inc. now owns 183,907 shares of the oil and gas company's stock worth $5,828,000 after purchasing an additional 64,793 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the transaction, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. The trade was a 12.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

TechnipFMC Stock Up 0.4%

NYSE:FTI traded up $0.13 during trading hours on Tuesday, reaching $35.10. 1,861,061 shares of the company traded hands, compared to its average volume of 4,454,144. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The business's 50-day moving average price is $34.61 and its two-hundred day moving average price is $30.86. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The stock has a market capitalization of $14.42 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.15 and a beta of 1.04.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. TechnipFMC's quarterly revenue was up 9.0% compared to the same quarter last year. Analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Sanford C. Bernstein lowered TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research report on Thursday, May 22nd. Evercore ISI raised their target price on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.92.

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.