TechnipFMC plc (NYSE:FTI) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in TechnipFMC plc (NYSE:FTI) by 16.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,758 shares of the oil and gas company’s stock after selling 11,542 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in TechnipFMC were worth $1,143,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FTI. Exchange Traded Concepts LLC acquired a new stake in shares of TechnipFMC in the third quarter worth $2,633,000. Ballentine Partners LLC acquired a new stake in shares of TechnipFMC in the third quarter worth $203,000. Xponance Inc. increased its position in shares of TechnipFMC by 128.1% in the third quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock worth $705,000 after acquiring an additional 19,451 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of TechnipFMC by 14.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock worth $264,000 after acquiring an additional 1,674 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TechnipFMC by 17.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock worth $1,820,000 after acquiring an additional 13,265 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Up 3.5 %

NYSE FTI opened at $26.63 on Friday. The company’s fifty day moving average price is $24.07 and its two-hundred day moving average price is $21.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. TechnipFMC plc has a 12 month low of $12.64 and a 12 month high of $27.26. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 221.94 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, research analysts predict that TechnipFMC plc will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be given a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. TechnipFMC’s payout ratio is currently 166.68%.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective for the company. in a research report on Friday, February 23rd. TD Cowen upped their target price on shares of TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Susquehanna restated a “positive” rating and issued a $27.00 target price on shares of TechnipFMC in a research note on Monday, April 8th. Barclays upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, Benchmark restated a “buy” rating and issued a $30.00 target price (up from $25.00) on shares of TechnipFMC in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.34.

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.