Los Angeles Capital Management LLC Trims Position in TechnipFMC plc (NYSE:FTI)

Los Angeles Capital Management LLC lowered its position in TechnipFMC plc (NYSE:FTI) by 53.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 199,851 shares of the oil and gas company’s stock after selling 231,550 shares during the quarter. Los Angeles Capital Management LLC’s holdings in TechnipFMC were worth $4,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTI. Parkside Financial Bank & Trust acquired a new position in shares of TechnipFMC in the 3rd quarter valued at $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of TechnipFMC during the fourth quarter valued at about $45,000. Systematic Alpha Investments LLC acquired a new stake in shares of TechnipFMC during the third quarter valued at about $146,000. International Assets Investment Management LLC purchased a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $203,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TechnipFMC in the 4th quarter worth approximately $203,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of FTI opened at $25.96 on Monday. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 55.23 and a beta of 1.62. TechnipFMC plc has a 52-week low of $12.77 and a 52-week high of $27.26. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $24.74 and a 200 day moving average price of $21.75.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. Research analysts predict that TechnipFMC plc will post 1.16 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s payout ratio is 42.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FTI. Bank of America boosted their target price on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. Barclays increased their target price on TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. TD Cowen lifted their target price on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, April 26th. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target on the stock. in a research report on Friday, February 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.72.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.93% of the company’s stock.

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.