SG Americas Securities LLC Cuts Stock Holdings in TechnipFMC plc (NYSE:FTI)

SG Americas Securities LLC decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 92.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 15,294 shares of the oil and gas company’s stock after selling 199,500 shares during the period. SG Americas Securities LLC’s holdings in TechnipFMC were worth $401,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norden Group LLC increased its position in TechnipFMC by 2,899.1% during the 1st quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after purchasing an additional 366,266 shares during the period. Vanguard Group Inc. increased its position in TechnipFMC by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock valued at $803,888,000 after purchasing an additional 126,247 shares during the period. Edgestream Partners L.P. purchased a new position in TechnipFMC during the 1st quarter valued at about $965,000. Atria Investments Inc purchased a new position in TechnipFMC during the 1st quarter valued at about $1,684,000. Finally, Raymond James & Associates increased its position in TechnipFMC by 12.0% during the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock valued at $8,875,000 after purchasing an additional 36,326 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $26.52 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $29.85. The company has a 50 day simple moving average of $26.22 and a two-hundred day simple moving average of $26.21. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 56.43 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, analysts predict that TechnipFMC plc will post 1.37 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Susquehanna raised their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a report on Friday, July 26th. Citigroup raised their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Bank of America raised their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets raised their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Finally, StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

TechnipFMC Profile

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.