Ensign Peak Advisors Inc Sells 6,805 Shares of TechnipFMC plc (NYSE:FTI)

Ensign Peak Advisors Inc lessened its position in shares of TechnipFMC plc (NYSE:FTI) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 232,725 shares of the oil and gas company’s stock after selling 6,805 shares during the period. Ensign Peak Advisors Inc’s holdings in TechnipFMC were worth $6,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Yousif Capital Management LLC increased its holdings in TechnipFMC by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 357 shares during the period. Sigma Planning Corp increased its holdings in TechnipFMC by 3.3% during the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock worth $334,000 after acquiring an additional 363 shares during the period. Ballentine Partners LLC increased its holdings in TechnipFMC by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 423 shares during the period. Smartleaf Asset Management LLC increased its holdings in TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 525 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 563 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

FTI stock opened at $31.28 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 52 week low of $22.12 and a 52 week high of $33.45. The firm’s fifty day moving average is $27.78 and its 200 day moving average is $29.17. The firm has a market cap of $13.11 billion, a P/E ratio of 20.58 and a beta of 0.98.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS. Research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.64%. TechnipFMC’s payout ratio is currently 10.53%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CAO David Light sold 10,147 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. This represents a 57.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares of the company’s stock, valued at $3,004,301.76. This trade represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 in the last quarter. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on FTI. Susquehanna cut their price target on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a research note on Monday, April 14th. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Piper Sandler boosted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Finally, Evercore ISI boosted their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.