New York State Teachers Retirement System Sells 13,646 Shares of TechnipFMC plc $FTI

New York State Teachers Retirement System decreased its holdings in TechnipFMC plc (NYSE:FTI) by 4.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 273,527 shares of the oil and gas company’s stock after selling 13,646 shares during the quarter. New York State Teachers Retirement System owned 0.07% of TechnipFMC worth $18,909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FTI. Focus Partners Wealth grew its holdings in TechnipFMC by 27.2% during the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after buying an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after acquiring an additional 6,381 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of TechnipFMC by 132.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock worth $188,000 after acquiring an additional 3,105 shares in the last quarter. Finally, Ossiam raised its holdings in shares of TechnipFMC by 52.0% in 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 during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

NYSE FTI opened at $66.72 on Friday. The company has a market capitalization of $26.60 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC plc has a 52-week low of $31.88 and a 52-week high of $77.78. The company has a 50-day simple moving average of $69.83 and a 200 day simple moving average of $63.29.

TechnipFMC (NYSE:FTI) last released its 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 net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the company earned $0.33 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FTI. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Evercore reissued an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Piper Sandler boosted their target price on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target of $70.00.

About TechnipFMC

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.