Norden Group LLC Sells 3,846 Shares of TechnipFMC plc (NYSE:FTI)

Norden Group LLC lowered its stake in TechnipFMC plc (NYSE:FTI) by 23.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,634 shares of the oil and gas company’s stock after selling 3,846 shares during the quarter. Norden Group LLC’s holdings in TechnipFMC were worth $254,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FTI. Russell Investments Group Ltd. raised its holdings in TechnipFMC by 22.1% during the 4th quarter. Russell Investments Group Ltd. now owns 367,959 shares of the oil and gas company’s stock valued at $7,411,000 after buying an additional 66,518 shares during the last quarter. Semanteon Capital Management LP purchased a new position in shares of TechnipFMC in the fourth quarter valued at about $995,000. State of New Jersey Common Pension Fund D raised its stake in shares of TechnipFMC by 2.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 388,798 shares of the oil and gas company’s stock valued at $7,830,000 after acquiring an additional 8,488 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of TechnipFMC during the fourth quarter worth about $45,000. Finally, Glenorchy Capital Ltd bought a new stake in shares of TechnipFMC in the fourth quarter worth about $2,559,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

FTI stock opened at $25.35 on Thursday. The stock’s 50 day simple moving average is $24.46 and its 200 day simple moving average is $21.65. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. TechnipFMC plc has a 12-month low of $12.64 and a 12-month high of $27.26. The stock has a market capitalization of $10.93 billion, a PE ratio of 53.94 and a beta of 1.62.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, research analysts forecast that TechnipFMC plc will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.79%. TechnipFMC’s dividend payout ratio is presently 42.55%.

Insider Activity

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on FTI. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of TechnipFMC in a report on Friday, April 26th. Bank of America raised their price target on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. TD Cowen upped their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays lifted their target price on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Susquehanna raised their price objective on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.72.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.