TechnipFMC plc (NYSE:FTI) Stake Cut by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP reduced its stake in TechnipFMC plc by 20.9%, holding 1,483,510 shares valued at $47.01 million after selling 392,413 shares in Q1.
• A number of hedge funds increased their positions in TechnipFMC during Q4, with Ameriprise Financial raising its holdings by 31.5%, and Deutsche Bank AG increasing theirs by 92.5%.
• TechnipFMC announced a quarterly dividend of $0.05 per share, with a yield of 0.6%, payable on September 3rd to shareholders recorded on August 19th.

Westfield Capital Management Co. LP reduced its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,483,510 shares of the oil and gas company's stock after selling 392,413 shares during the period. Westfield Capital Management Co. LP owned about 0.35% of TechnipFMC worth $47,012,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in shares of TechnipFMC during the 1st quarter valued at approximately $33,000. Quarry LP raised its position in shares of TechnipFMC by 95.9% during the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after acquiring an additional 1,248 shares in the last quarter. GAMMA Investing LLC raised its position in shares of TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after acquiring an additional 614 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of TechnipFMC by 346.7% during 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 acquiring an additional 2,219 shares in the last quarter. Finally, Acuitas Investments LLC raised its position in shares of TechnipFMC by 13.4% during the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock valued at $108,000 after acquiring an additional 400 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on FTI. Citigroup reaffirmed a "buy" rating and issued a $41.00 target price (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Susquehanna increased their target price on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. BTIG Research lowered TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Evercore ISI increased their price target on TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Barclays increased their price target on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and an average target price of $38.92.

TechnipFMC Trading Down 0.5%

Shares of NYSE FTI traded down $0.18 during mid-day trading on Friday, hitting $34.94. 1,847,145 shares of the company traded hands, compared to its average volume of 4,619,238. 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 $14.36 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.16 and a beta of 1.04. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $34.47 and a two-hundred day moving average of $30.82.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, beating 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 business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business posted $0.43 earnings per share. TechnipFMC's revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced 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. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, August 19th. TechnipFMC's dividend payout ratio is currently 9.43%.

Insider Activity at TechnipFMC

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

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.