TechnipFMC plc $FTI Stock Holdings Decreased by Distillate Capital Partners LLC

Distillate Capital Partners LLC trimmed its position in TechnipFMC plc (NYSE:FTI) by 26.7% in the third quarter, Holdings Channel.com reports. The fund owned 346,256 shares of the oil and gas company’s stock after selling 126,202 shares during the period. Distillate Capital Partners LLC’s holdings in TechnipFMC were worth $13,668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of FTI. Blue Trust Inc. lifted its stake in TechnipFMC by 5,475.0% in the third 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 during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted its stake in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Huntington National Bank grew its holdings in TechnipFMC by 317.8% during the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 909 shares during the period. Finally, McIlrath & Eck LLC grew its stake in shares of TechnipFMC by 476.3% in the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,024 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Alf Melin sold 43,554 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the completion of the sale, the chief financial officer owned 238,983 shares in the company, valued at approximately $15,086,996.79. This trade represents a 15.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Luana Duffe sold 47,951 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $2,993,580.93. Following the completion of the sale, the executive vice president owned 78,871 shares of the company’s stock, valued at $4,923,916.53. This trade represents a 37.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,210,092 shares of company stock worth $75,322,232 in the last quarter. Company insiders own 1.80% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $63.01 on Monday. The firm’s 50 day simple moving average is $58.39 and its 200 day simple moving average is $47.48. The company has a market capitalization of $25.21 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 1.16 and a beta of 0.70. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $68.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.TechnipFMC’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders 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 dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC’s dividend payout ratio (DPR) is 8.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FTI shares. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and boosted their price target for the company from $49.00 to $62.00 in a report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Barclays restated an “overweight” rating and issued a $69.00 price objective on shares of TechnipFMC in a research note on Friday, February 20th. Finally, Royal Bank Of Canada increased their target price on TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.47.

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.