Strs Ohio Reduces Position in TechnipFMC plc (NYSE:FTI)

Strs Ohio trimmed its holdings in TechnipFMC plc (NYSE:FTI) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 476,767 shares of the oil and gas company’s stock after selling 44,866 shares during the quarter. Strs Ohio owned about 0.11% of TechnipFMC worth $9,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FTI. Harbour Investments Inc. lifted its position in TechnipFMC by 366.7% during the third quarter. Harbour Investments Inc. now owns 1,400 shares of the oil and gas company’s stock worth $28,000 after buying an additional 1,100 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of TechnipFMC during the 3rd quarter worth $29,000. Captrust Financial Advisors boosted its position in shares of TechnipFMC by 65.1% during the 2nd quarter. Captrust Financial Advisors now owns 7,461 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 2,943 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of TechnipFMC by 199.5% in the third 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 during the period. Finally, Zions Bancorporation N.A. acquired a new stake in TechnipFMC during the first quarter worth about $58,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTI has been the subject of several analyst reports. TD Cowen increased their price target on shares of TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. ATB Capital set a $30.00 price objective on TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Bank of America lifted their target price on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday. Susquehanna reiterated a “positive” rating and set a $27.00 price target on shares of TechnipFMC in a report on Monday, April 8th. Finally, Benchmark reissued a “buy” rating and set a $30.00 price objective (up from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.34.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, 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 SEC, which is available through this hyperlink. Insiders own 1.06% of the company’s stock.

TechnipFMC Stock Up 0.2 %

TechnipFMC stock opened at $25.32 on Thursday. The firm has a market capitalization of $11.07 billion, a P/E ratio of 211.00 and a beta of 1.65. The stock’s fifty day simple moving average is $23.30 and its 200-day simple moving average is $21.25. TechnipFMC plc has a twelve month low of $12.64 and a twelve month high of $27.26. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.90 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. TechnipFMC’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. As a group, equities analysts expect that TechnipFMC plc will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Tuesday, March 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. TechnipFMC’s dividend payout ratio (DPR) is currently 166.67%.

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.