Polen Capital Management LLC Lowers Holdings in TechnipFMC plc $FTI

Polen Capital Management LLC trimmed its holdings in TechnipFMC plc (NYSE:FTI) by 29.5% in the 4th quarter, HoldingsChannel reports. The fund owned 35,915 shares of the oil and gas company’s stock after selling 15,005 shares during the quarter. Polen Capital Management LLC’s holdings in TechnipFMC were worth $1,600,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC purchased a new position in shares of TechnipFMC during the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the third quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of TechnipFMC during the fourth quarter worth $41,000. Torren Management LLC purchased a new position in shares of TechnipFMC during the fourth quarter worth $45,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of 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 buying an additional 340 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

TechnipFMC Stock Up 0.9%

Shares of NYSE FTI opened at $70.55 on Friday. The stock has a market cap of $28.13 billion, a P/E ratio of 26.93, a PEG ratio of 1.50 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78. The business’s fifty day simple moving average is $71.65 and its 200-day simple moving average is $61.08.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $0.33 earnings per share. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts predict that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

Wall Street Analyst Weigh In

FTI has been the subject of several research analyst reports. Piper Sandler raised their price target on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada raised 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. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Citigroup raised their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and raised their price target for the stock from $49.00 to $62.00 in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.71.

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.