Wakefield Asset Management LLLP Lowers Stock Position in TechnipFMC plc (NYSE:FTI)

Wakefield Asset Management LLLP reduced its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 45.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,248 shares of the oil and gas company's stock after selling 60,865 shares during the quarter. Wakefield Asset Management LLLP's holdings in TechnipFMC were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. New York State Teachers Retirement System purchased a new stake in TechnipFMC in the first quarter worth $33,000. Westpac Banking Corp acquired a new position in TechnipFMC during the fourth quarter worth $55,000. Quarry LP lifted its stake in shares of TechnipFMC by 95.9% in the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after purchasing an additional 1,248 shares during the last quarter. GAMMA Investing LLC increased its holdings in TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after purchasing an additional 614 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after purchasing an additional 2,219 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

FTI stock opened at $32.41 on Wednesday. The business has a 50 day moving average price of $33.04 and a 200 day moving average price of $30.46. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.09 and a beta of 1.07. TechnipFMC plc has a fifty-two week low of $22.12 and a fifty-two week high of $35.86. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.17.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Equities research analysts anticipate 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 paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. TechnipFMC's dividend payout ratio (DPR) is presently 10.53%.

Analyst Upgrades and Downgrades

FTI has been the topic of a number of recent research reports. Barclays boosted their price objective on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Citigroup restated 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, July 10th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Susquehanna boosted their price target on TechnipFMC from $35.00 to $40.00 and gave the stock a "positive" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and an average target price of $37.31.

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.

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