TechnipFMC plc $FTI Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 424,762 shares of the oil and gas company’s stock after selling 47,618 shares during the period. Thornburg Investment Management Inc. owned about 0.11% of TechnipFMC worth $18,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC during the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. lifted 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 purchasing an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TechnipFMC during the fourth quarter worth $41,000. Finally, Torren Management LLC acquired a new position in shares of TechnipFMC during the fourth quarter worth $45,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Down 0.1%

Shares of NYSE:FTI opened at $70.70 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $71.67 and a 200 day simple moving average of $61.26. The firm has a market cap of $28.19 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, equities research analysts anticipate that TechnipFMC plc will post 2.98 EPS for the current fiscal 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 paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s payout ratio is 7.63%.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the sale, the director owned 59,887 shares in the company, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Citigroup boosted their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average 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.