Gabelli Funds LLC Sells 15,500 Shares of TechnipFMC plc $FTI

Gabelli Funds LLC decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,411 shares of the oil and gas company’s stock after selling 15,500 shares during the quarter. Gabelli Funds LLC’s holdings in TechnipFMC were worth $7,630,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. AE Wealth Management LLC grew its position in TechnipFMC by 38.0% in the third quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after acquiring an additional 50,593 shares in the last quarter. Lingohr Asset Management GmbH raised its position in TechnipFMC by 461.7% during the third quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock valued at $8,375,000 after purchasing an additional 174,500 shares during the period. Bank of New York Mellon Corp raised its position in TechnipFMC by 80.6% during the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after purchasing an additional 1,415,621 shares during the period. Rothschild Investment LLC lifted its stake in shares of TechnipFMC by 25,468.9% in the 3rd quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock valued at $454,000 after purchasing an additional 11,461 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of TechnipFMC by 8.4% in the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock worth $12,053,000 after purchasing an additional 23,600 shares during the period. Institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FTI shares. Royal Bank Of Canada boosted their target price on TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Citigroup raised their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. Finally, HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and raised their target price for the stock from $49.00 to $62.00 in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus target price of $58.47.

TechnipFMC Trading Down 2.3%

Shares of NYSE FTI opened at $62.93 on Monday. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $68.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The company has a market cap of $25.18 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.16 and a beta of 0.70. The business’s 50 day moving average price is $56.56 and its 200-day moving average price is $46.51.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.TechnipFMC’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. On average, sell-side analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC’s payout ratio is currently 8.66%.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 6,350 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total value of $415,290.00. Following the transaction, the director directly owned 97,860 shares in the company, valued at approximately $6,400,044. This represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

TechnipFMC Company 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.