Thornburg Investment Management Inc. Sells 88,957 Shares of TechnipFMC plc (NYSE:FTI)

Key Points

• Thornburg Investment Management Inc. reduced its stake in TechnipFMC plc by 12.2%, selling 88,957 shares and now holds approximately 0.15% of the company valued at $20,260,000.
• TechnipFMC reported a quarterly EPS of $0.68, exceeding estimates, with revenue of $2.53 billion, marking a 9% increase year-over-year.
• The company has declared a $0.05 quarterly dividend, yielding 0.54%, with a dividend payout ratio of 9.43% and the record date set for August 19.

Thornburg Investment Management Inc. lowered its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 639,315 shares of the oil and gas company's stock after selling 88,957 shares during the period. Thornburg Investment Management Inc. owned approximately 0.15% of TechnipFMC worth $20,260,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in shares of TechnipFMC by 31.5% in 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 last quarter. Norges Bank bought a new position in shares of TechnipFMC in the 4th quarter worth about $96,808,000. Anomaly Capital Management LP lifted its position in shares of TechnipFMC by 46.5% in 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 last quarter. AQR Capital Management LLC lifted its position in shares of TechnipFMC by 70.6% in 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 last quarter. Finally, Deutsche Bank AG lifted its position in TechnipFMC by 92.5% in the 4th quarter. Deutsche Bank AG now owns 2,777,040 shares of the oil and gas company's stock valued at $80,368,000 after purchasing an additional 1,334,555 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Trading Down 2.9%

Shares of TechnipFMC stock traded down $1.05 during midday trading on Friday, reaching $35.32. The company had a trading volume of 3,531,955 shares, compared to its average volume of 4,532,078. The stock has a fifty day moving average price of $33.88 and a 200 day moving average price of $30.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. The firm has a market cap of $14.52 billion, a PE ratio of 16.66, a P/E/G ratio of 1.22 and a beta of 1.07. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $38.05.

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

TechnipFMC Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. TechnipFMC's dividend payout ratio (DPR) is presently 9.43%.

Insider Buying and Selling at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the transaction, the director directly owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. This trade represents a 12.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FTI shares. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Citigroup reaffirmed a "buy" rating and issued a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a research note on Thursday, May 22nd. Evercore ISI lifted their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their target price on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and a consensus price target 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.