Cumberland Partners Ltd Sells 20,000 Shares of TechnipFMC plc $FTI

Cumberland Partners Ltd lowered its holdings in TechnipFMC plc (NYSE:FTI) by 36.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,000 shares of the oil and gas company’s stock after selling 20,000 shares during the period. Cumberland Partners Ltd’s holdings in TechnipFMC were worth $1,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FTI. Blue Trust Inc. grew its stake in TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 657 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the period. McIlrath & Eck LLC grew its position in shares of TechnipFMC by 476.3% in the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,024 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of TechnipFMC during the 2nd quarter valued at $44,000. Finally, Root Financial Partners LLC purchased a new stake in TechnipFMC during the 3rd quarter worth about $51,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

FTI opened at $62.39 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $25.24 billion, a P/E ratio of 27.85, a PEG ratio of 1.19 and a beta of 0.69. The stock has a 50-day moving average price of $51.73 and a 200-day moving average price of $43.93. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $62.98.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, February 19th. 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 30.23% and a net margin of 9.67%. Equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC announced that its board has authorized a share repurchase plan on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be 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 is Tuesday, March 17th. TechnipFMC’s dividend payout ratio (DPR) is presently 8.93%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FTI shares. Jefferies Financial Group upped their price target on TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, January 7th. UBS Group reissued an “outperform” rating on shares of TechnipFMC in a report on Tuesday, October 28th. Royal Bank Of Canada upped their price target on shares of TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.58.

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.