Shayne & Jacobs LLC Reduces Stock Holdings in TechnipFMC plc $FTI

Shayne & Jacobs LLC lessened its holdings in shares of TechnipFMC plc (NYSE:FTI) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,670 shares of the oil and gas company’s stock after selling 7,185 shares during the period. TechnipFMC accounts for approximately 2.3% of Shayne & Jacobs LLC’s holdings, making the stock its 8th biggest position. Shayne & Jacobs LLC’s holdings in TechnipFMC were worth $7,471,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TechnipFMC by 3.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,709 shares of the oil and gas company’s stock valued at $5,712,000 after buying an additional 3,741 shares in the last quarter. Krilogy Financial LLC boosted its stake in TechnipFMC by 15.7% in the 4th quarter. Krilogy Financial LLC now owns 43,121 shares of the oil and gas company’s stock worth $1,921,000 after purchasing an additional 5,847 shares in the last quarter. Earned Wealth Advisors LLC boosted its stake in TechnipFMC by 46.3% in the 4th quarter. Earned Wealth Advisors LLC now owns 8,518 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 2,695 shares in the last quarter. Friedenthal Financial bought a new position in TechnipFMC in the 4th quarter worth about $941,000. Finally, Asset Management One Co. Ltd. bought a new position in TechnipFMC in the 4th quarter worth about $833,000. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FTI. Royal Bank Of Canada upped their price target on shares of TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. Piper Sandler upped their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. BMO Capital Markets upped their price target on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Finally, Barclays reiterated an “overweight” rating and issued a $69.00 price target on shares of TechnipFMC in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus target price of $61.73.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $70.22 on Tuesday. TechnipFMC plc has a fifty-two week low of $24.36 and a fifty-two week high of $75.52. The business has a 50-day simple moving average of $67.00 and a two-hundred day simple moving average of $53.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The firm has a market cap of $28.20 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71.

TechnipFMC (NYSE:FTI) last issued its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. TechnipFMC’s revenue was up 6.3% on a year-over-year basis. On average, analysts expect that TechnipFMC plc will post 2.92 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s payout ratio is 8.66%.

Insiders Place Their Bets

In other news, CFO Alf Melin sold 83,721 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the completion of the sale, the chief financial officer owned 282,537 shares of the company’s stock, valued at $17,469,262.71. This represents a 22.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Luana Duffe sold 47,951 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the sale, the executive vice president directly owned 78,871 shares of the company’s stock, valued at $4,923,916.53. The trade was a 37.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,216,442 shares of company stock worth $75,762,414 in the last quarter. Insiders own 1.40% of the company’s stock.

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.