Hardman Johnston Global Advisors LLC Sells 2,039,870 Shares of TechnipFMC plc (NYSE:FTI)

Hardman Johnston Global Advisors LLC decreased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 15.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,469,306 shares of the oil and gas company's stock after selling 2,039,870 shares during the quarter. TechnipFMC accounts for approximately 7.4% of Hardman Johnston Global Advisors LLC's portfolio, making the stock its 2nd largest holding. Hardman Johnston Global Advisors LLC owned 2.63% of TechnipFMC worth $230,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FTI. Harbour Investments Inc. lifted its holdings in TechnipFMC by 366.7% in the 3rd quarter. Harbour Investments Inc. now owns 1,400 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 1,100 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in TechnipFMC in the 3rd quarter valued at $29,000. Captrust Financial Advisors lifted its holdings in TechnipFMC by 65.1% in the 2nd quarter. Captrust Financial Advisors now owns 7,461 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 2,943 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in TechnipFMC by 199.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,612 shares of the oil and gas company's stock valued at $56,000 after purchasing an additional 4,404 shares in the last quarter. Finally, Zions Bancorporation N.A. purchased a new position in TechnipFMC in the 1st quarter valued at $58,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FTI. Barclays lifted their price target on TechnipFMC from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, February 27th. Susquehanna reiterated a "positive" rating and set a $27.00 price target on shares of TechnipFMC in a report on Monday. Benchmark reiterated a "buy" rating and set a $30.00 price target (up previously from $25.00) on shares of TechnipFMC in a report on Monday, April 1st. TD Cowen lifted their price target on TechnipFMC from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, February 23rd. Finally, HSBC lowered TechnipFMC from a "buy" rating to a "hold" rating and set a $23.60 price target on the stock. in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $25.11.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares of the company's stock, valued at $2,204,418.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

TechnipFMC Stock Down 1.9 %

Shares of TechnipFMC stock traded down $0.50 on Friday, reaching $25.86. 4,756,887 shares of the company were exchanged, compared to its average volume of 4,839,143. TechnipFMC plc has a 1-year low of $12.64 and a 1-year high of $27.26. The company has a market cap of $11.30 billion, a P/E ratio of 215.50 and a beta of 1.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. The stock's 50 day moving average price is $22.92 and its 200-day moving average price is $21.16.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. The business's revenue for the quarter was up 22.6% on a year-over-year basis. As a group, equities analysts forecast that TechnipFMC plc will post 1.16 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Tuesday, March 19th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Monday, March 18th. TechnipFMC's dividend payout ratio (DPR) is 166.67%.

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.

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