Millennium Management LLC Decreases Stake in TechnipFMC plc (NYSE:FTI)

Millennium Management LLC trimmed its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 53.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,925,411 shares of the oil and gas company's stock after selling 2,169,178 shares during the quarter. Millennium Management LLC owned about 0.45% of TechnipFMC worth $55,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich bought a new stake in TechnipFMC in the fourth quarter worth $46,000. Smartleaf Asset Management LLC raised its position in shares of TechnipFMC by 55.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in TechnipFMC in the 4th quarter worth about $45,000. EverSource Wealth Advisors LLC grew its position in TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after purchasing an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its position in TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 563 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded down $0.57 on Thursday, hitting $29.32. 1,222,433 shares of the company's stock were exchanged, compared to its average volume of 3,997,407. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $33.45. The company has a 50-day simple moving average of $28.34 and a 200-day simple moving average of $29.34. The stock has a market capitalization of $12.29 billion, a PE ratio of 19.29 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. As a group, equities analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.68%. TechnipFMC's dividend payout ratio (DPR) is presently 10.53%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTI. Barclays lifted their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Sanford C. Bernstein cut TechnipFMC from an "outperform" rating to a "market perform" rating and set a $32.00 price objective on the stock. in a research report on Thursday. Royal Bank of Canada reissued an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. Wall Street Zen cut TechnipFMC from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Finally, Susquehanna lowered their price target on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, TechnipFMC presently has an average rating of "Moderate Buy" and a consensus target price of $36.46.

Insider Activity

In other news, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. This trade represents a 23.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the business's stock in a transaction on Monday, March 24th. The stock was 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 directly owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock worth $1,651,665 in the last three months. Company insiders own 1.80% of the company's stock.

About TechnipFMC

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.