Manatuck Hill Partners LLC Reduces Stake in TechnipFMC plc (NYSE:FTI)

Manatuck Hill Partners LLC trimmed its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,000 shares of the oil and gas company's stock after selling 37,700 shares during the period. TechnipFMC comprises about 2.9% of Manatuck Hill Partners LLC's holdings, making the stock its 8th biggest holding. Manatuck Hill Partners LLC owned 0.06% of TechnipFMC worth $7,090,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in FTI. T. Rowe Price Investment Management Inc. boosted its position in TechnipFMC by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock valued at $1,220,288,000 after purchasing an additional 365,527 shares during the last quarter. Vanguard Group Inc. boosted 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 valued at $1,180,576,000 after acquiring an additional 1,623,864 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in TechnipFMC by 15.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock worth $282,150,000 after acquiring an additional 1,319,015 shares in the last quarter. Anomaly Capital Management LP grew its position in 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 acquiring an additional 2,306,342 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in TechnipFMC by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,920,929 shares of the oil and gas company's stock worth $142,414,000 after buying an additional 138,556 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares of the company's stock, valued at $187,472.10. This represents a 57.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock valued at $1,651,665 in the last ninety days. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FTI has been the subject of several analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 price target on shares of TechnipFMC in a research report on Monday, April 28th. Evercore ISI raised their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Susquehanna lowered their target price on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Barclays lifted their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Two 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.83.

TechnipFMC Trading Up 0.5 %

FTI traded up $0.16 during trading on Wednesday, reaching $29.31. 655,683 shares of the company's stock were exchanged, compared to its average volume of 3,983,088. The firm has a fifty day moving average price of $27.52 and a two-hundred day moving average price of $29.01. The stock has a market capitalization of $12.29 billion, a PE ratio of 19.24 and a beta of 0.98. TechnipFMC plc has a one year low of $22.12 and a one year high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly 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). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm posted $0.22 EPS. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast 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, June 4th. Stockholders of record on Tuesday, May 20th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 20th. TechnipFMC's dividend payout ratio (DPR) is presently 10.53%.

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.