Sumitomo Mitsui Trust Group Inc. Sells 28,148 Shares of TechnipFMC plc $FTI

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of TechnipFMC plc (NYSE:FTI) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 186,259 shares of the oil and gas company’s stock after selling 28,148 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in TechnipFMC were worth $12,876,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Focus Partners Wealth increased its stake in shares of TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after acquiring an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in TechnipFMC by 76.1% in the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after purchasing an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in TechnipFMC by 132.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock worth $188,000 after purchasing an additional 3,105 shares during the period. Finally, Ossiam increased its stake in shares of TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of FTI opened at $74.55 on Wednesday. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78. The company has a market capitalization of $29.72 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.70. The firm has a 50 day moving average of $69.24 and a 200 day moving average of $64.71. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is presently 7.63%.

Analysts Set New Price Targets

FTI has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their price target on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Susquehanna reduced their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.