Strs Ohio Sells 122,915 Shares of TechnipFMC plc $FTI

Strs Ohio lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 37.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 203,886 shares of the oil and gas company’s stock after selling 122,915 shares during the quarter. Strs Ohio’s holdings in TechnipFMC were worth $14,095,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FTI. Independent Advisor Alliance increased its stake in shares of TechnipFMC by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock worth $2,730,000 after buying an additional 184 shares during the period. Personal CFO Solutions LLC boosted its position in TechnipFMC by 3.0% during the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock valued at $346,000 after buying an additional 225 shares during the period. Evolve Private Wealth LLC grew its holdings in 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 acquiring an additional 227 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of TechnipFMC by 5.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company’s stock valued at $235,000 after acquiring an additional 262 shares during the period. Finally, Kestra Advisory Services LLC increased its position in shares of TechnipFMC by 2.8% in the fourth quarter. Kestra Advisory Services LLC now owns 11,353 shares of the oil and gas company’s stock valued at $506,000 after acquiring an additional 305 shares during the period. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on FTI shares. Weiss Ratings lowered shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Barclays boosted their price target on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Susquehanna increased their price objective on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a report on Friday, May 1st. Piper Sandler lifted their price objective on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

TechnipFMC Trading Down 0.0%

NYSE:FTI opened at $66.72 on Friday. The company has a 50-day moving average price of $69.83 and a 200-day moving average price of $63.29. The stock has a market cap of $26.60 billion, a price-to-earnings ratio of 25.47, a P/E/G ratio of 1.43 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company earned $0.33 earnings per share. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts predict that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s payout ratio is presently 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.