Cannell & Spears LLC Sells 56,612 Shares of TechnipFMC plc $FTI

Cannell & Spears LLC cut its stake in TechnipFMC plc (NYSE:FTI) by 45.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 68,188 shares of the oil and gas company’s stock after selling 56,612 shares during the quarter. Cannell & Spears LLC’s holdings in TechnipFMC were worth $4,609,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FTI. AQR Capital Management LLC boosted its position in shares of TechnipFMC by 26.7% during the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after buying an additional 3,549,839 shares during the last quarter. State Street Corp raised its position in TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after buying an additional 4,938,498 shares during the last quarter. Invesco Ltd. raised its position in TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after buying an additional 4,437,960 shares during the last quarter. Boston Partners lifted its stake in TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after acquiring an additional 192,549 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in TechnipFMC by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock valued at $337,714,000 after acquiring an additional 193,244 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Evercore reissued an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Piper Sandler upped their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Up 0.9%

FTI stock opened at $76.70 on Friday. The stock’s fifty day simple moving average is $69.53 and its two-hundred day simple moving average is $66.19. 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 1-year low of $34.27 and a 1-year high of $77.92. The stock has a market cap of $30.58 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.61 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) 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 firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that TechnipFMC plc will post 3.01 EPS for the current year.

TechnipFMC Dividend Announcement

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

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.