Empowered Funds LLC Sells 12,273 Shares of TechnipFMC plc $FTI

Empowered Funds LLC lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 6.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 187,638 shares of the oil and gas company’s stock after selling 12,273 shares during the period. Empowered Funds LLC’s holdings in TechnipFMC were worth $12,971,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. State Street Corp boosted its holdings in TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after buying an additional 4,938,498 shares during the period. Norges Bank purchased a new position in TechnipFMC during the 4th quarter valued at approximately $205,468,000. Invesco Ltd. increased its position in TechnipFMC by 64.9% in the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after buying an additional 3,549,839 shares during the last quarter. Finally, Northern Trust Corp increased its stake in TechnipFMC by 46.2% during the third 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 Stock Down 0.9%

Shares of FTI stock opened at $71.77 on Thursday. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $77.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a market capitalization of $28.61 billion, a PE ratio of 27.39, a P/E/G ratio of 1.52 and a beta of 0.70. The stock’s 50-day simple moving average is $69.52 and its 200-day simple moving average is $66.82.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. Equities analysts expect that TechnipFMC plc will post 3.01 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s payout ratio is presently 7.63%.

Wall Street Analyst Weigh In

FTI has been the topic of a number of analyst reports. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research report on Wednesday, June 3rd. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Susquehanna cut their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Piper Sandler boosted their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.64.

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.