Cumberland Partners Ltd Sells 35,000 Shares of TechnipFMC plc $FTI

Cumberland Partners Ltd decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 53.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the oil and gas company’s stock after selling 35,000 shares during the quarter. Cumberland Partners Ltd’s holdings in TechnipFMC were worth $2,074,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its position in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares during the last quarter. Norges Bank bought a new position in shares of TechnipFMC in the 4th quarter worth $205,468,000. Invesco Ltd. raised its position in shares of TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after buying an additional 4,437,960 shares in the last quarter. AQR Capital Management LLC raised its position in shares of TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after buying an additional 3,549,839 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of TechnipFMC by 46.2% during the 3rd quarter. Northern Trust Corp now owns 3,581,329 shares of the oil and gas company’s stock worth $141,283,000 after acquiring an additional 1,132,216 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $76.70 on Friday. TechnipFMC plc has a 52-week low of $34.27 and a 52-week high of $77.92. The stock has a market capitalization of $30.58 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 1.60 and a beta of 0.70. The company has a fifty day moving average of $69.53 and a 200-day moving average of $66.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI) last posted 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 business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. Equities research analysts expect that TechnipFMC plc will post 3.01 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were paid 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 payout ratio is 7.63%.

Analyst Ratings Changes

FTI has been the subject of several research reports. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Susquehanna dropped their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Royal Bank Of Canada increased their price objective on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.