Merewether Investment Management LP trimmed its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 50.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 485,379 shares of the oil and gas company's stock after selling 491,176 shares during the quarter. Merewether Investment Management LP owned about 0.11% of TechnipFMC worth $14,047,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock valued at $66,000 after acquiring an additional 414 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TechnipFMC by 2.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 38,184 shares of the oil and gas company's stock valued at $1,105,000 after purchasing an additional 744 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in shares of TechnipFMC by 25.9% in the 4th quarter. Pallas Capital Advisors LLC now owns 29,011 shares of the oil and gas company's stock worth $840,000 after purchasing an additional 5,960 shares in the last quarter. Park Avenue Securities LLC purchased a new position in TechnipFMC during the 4th quarter worth $519,000. Finally, Hennessy Advisors Inc. increased its position in TechnipFMC by 6.7% during the 4th quarter. Hennessy Advisors Inc. now owns 404,740 shares of the oil and gas company's stock valued at $11,713,000 after buying an additional 25,300 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.
TechnipFMC Stock Performance
Shares of NYSE FTI traded down $0.22 during trading on Friday, reaching $31.33. 2,841,246 shares of the company traded hands, compared to its average volume of 4,012,098. The stock has a market cap of $13.13 billion, a P/E ratio of 20.61 and a beta of 0.98. The firm's fifty day simple moving average is $28.00 and its 200 day simple moving average is $29.22. 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 plc has a 12-month low of $22.12 and a 12-month high of $33.45.
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 the consensus estimate of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. As a group, research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.
TechnipFMC Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. TechnipFMC's dividend payout ratio is currently 10.53%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. StockNews.com lowered TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays boosted their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Susquehanna cut their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Monday, April 28th. Finally, Piper Sandler boosted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.83.
Check Out Our Latest Stock Report on FTI
Insider Buying and Selling at TechnipFMC
In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Light sold 10,147 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at $187,472.10. The trade was a 57.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,706 shares of company stock valued at $1,651,665. Company insiders own 1.80% of the company's stock.
TechnipFMC Profile
(
Free Report)
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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