California Public Employees Retirement System Lowers Holdings in TechnipFMC plc (NYSE:FTI)

California Public Employees Retirement System trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 850,976 shares of the oil and gas company’s stock after selling 37,949 shares during the period. California Public Employees Retirement System owned approximately 0.20% of TechnipFMC worth $17,139,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FTI. Parkside Financial Bank & Trust bought a new position in TechnipFMC during the third quarter valued at approximately $29,000. Systematic Alpha Investments LLC bought a new position in shares of TechnipFMC during the 3rd quarter valued at $146,000. Ballentine Partners LLC purchased a new position in shares of TechnipFMC in the 3rd quarter worth $203,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in TechnipFMC during the fourth quarter valued at $203,000. Finally, International Assets Investment Management LLC bought a new position in TechnipFMC in the fourth quarter valued at about $203,000. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’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 transaction of $264,809.20. Following the completion of the transaction, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FTI shares. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target for the company. in a research report on Friday, February 23rd. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of TechnipFMC in a research report on Friday. Bank of America lifted their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. Susquehanna upped their price objective on TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research note on Friday. Finally, Barclays lifted their target price on TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $26.14.

TechnipFMC Stock Up 0.1 %

NYSE FTI opened at $26.61 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. TechnipFMC plc has a 12 month low of $12.64 and a 12 month high of $27.26. The stock’s 50 day moving average is $24.35 and its 200 day moving average is $21.61. The stock has a market cap of $11.63 billion, a PE ratio of 56.62 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Research analysts predict that TechnipFMC plc will post 1.15 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be issued a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

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.