30,564 TechnipFMC plc $FTI Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC lessened its stake in TechnipFMC plc (NYSE:FTI) by 70.7% during the third quarter, HoldingsChannel.com reports. The firm owned 12,690 shares of the oil and gas company’s stock after selling 30,564 shares during the period. Sowell Financial Services LLC’s holdings in TechnipFMC were worth $862,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FTI. BlackRock Inc. acquired a new position in TechnipFMC in the second quarter worth about $3,081,514,000. Bank of America Corp DE bought a new stake in TechnipFMC in the second quarter valued at about $226,069,000. Bank of New York Mellon Corp bought a new stake in TechnipFMC in the second quarter valued at about $173,262,000. Danske Bank A S acquired a new stake in TechnipFMC during the second quarter valued at approximately $163,822,000. Finally, Legal & General Group Plc acquired a new stake in TechnipFMC during the second quarter valued at approximately $149,673,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 4.6%

NYSE FTI opened at $69.88 on Friday. TechnipFMC plc has a one year low of $39.06 and a one year high of $80.70. The company has a 50-day simple moving average of $73.19 and a 200-day simple moving average of $71.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The firm has a market capitalization of $27.40 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 1.12 and a beta of 0.83.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, equities analysts forecast that TechnipFMC plc will post 3.20 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

Insider Activity at TechnipFMC

In related news, Director Eric Mullins bought 6,365 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thierry Conti sold 6,000 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the sale, the insider owned 85,813 shares in the company, valued at $6,165,664.05. The trade was a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FTI has been the topic of a number of research analyst reports. Citigroup increased their target price on TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Barclays lowered their price target on TechnipFMC from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Weiss Ratings upgraded TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $74.83.

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.