Thornburg Investment Management Inc. Sells 305,336 Shares of TechnipFMC plc $FTI

Thornburg Investment Management Inc. reduced its position in shares of TechnipFMC plc (NYSE:FTI) by 91.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,838 shares of the oil and gas company’s stock after selling 305,336 shares during the quarter. Thornburg Investment Management Inc.’s holdings in TechnipFMC were worth $1,846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ANB Bank increased its position in shares of TechnipFMC by 3.4% during the first quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock valued at $339,000 after acquiring an additional 161 shares in the last quarter. PFG Investments LLC boosted its stake in TechnipFMC by 2.4% during the 1st quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock valued at $495,000 after purchasing an additional 165 shares during the last quarter. Independent Advisor Alliance boosted its stake in TechnipFMC by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after purchasing an additional 184 shares during the last quarter. Evolve Private Wealth LLC increased its holdings in shares of TechnipFMC by 0.7% in the 1st quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after purchasing an additional 227 shares in the last quarter. Finally, Caerus Investment Advisors LLC raised its stake in shares of TechnipFMC by 1.1% in the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company’s stock worth $1,661,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins purchased 6,365 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Trading Down 0.7%

Shares of NYSE:FTI opened at $75.81 on Friday. The stock has a market capitalization of $29.73 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.55 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The stock’s 50-day simple moving average is $72.07 and its two-hundred day simple moving average is $69.86. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.55.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. Analysts expect that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a $0.05 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 6.94%.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research analyst reports. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Barclays lifted their price objective on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.64.

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.