Pacer Advisors Inc. Sells 528,277 Shares of TechnipFMC plc $FTI

Pacer Advisors Inc. trimmed its position in shares of TechnipFMC plc (NYSE:FTI) by 13.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,309,037 shares of the oil and gas company’s stock after selling 528,277 shares during the period. Pacer Advisors Inc.’s holdings in TechnipFMC were worth $147,451,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FTI. Archford Capital Strategies LLC purchased a new stake in shares of TechnipFMC in the fourth quarter worth approximately $1,691,000. Asset Management One Co. Ltd. purchased a new position in shares of TechnipFMC during the fourth quarter valued at approximately $833,000. Danske Bank A S purchased a new position in shares of TechnipFMC during the third quarter valued at approximately $52,848,000. Harbor Capital Advisors Inc. bought a new stake in TechnipFMC during the fourth quarter worth $641,000. Finally, Farther Finance Advisors LLC raised its position in TechnipFMC by 394.3% in the 4th quarter. Farther Finance Advisors LLC now owns 11,848 shares of the oil and gas company’s stock valued at $528,000 after buying an additional 9,451 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director directly owned 59,887 shares in the company, valued at $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 SEC, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FTI. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. BMO Capital Markets upped their target price 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. Royal Bank Of Canada increased their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Citigroup raised their target price on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.00.

TechnipFMC Stock Down 2.9%

TechnipFMC stock opened at $65.05 on Friday. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78. The firm has a 50 day moving average price of $71.28 and a 200-day moving average price of $61.88. The company has a market capitalization of $25.93 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.44 and a beta of 0.69. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping 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 company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. TechnipFMC’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts predict that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

TechnipFMC 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.