Crossmark Global Holdings Inc. Sells 15,900 Shares of TechnipFMC plc $FTI

Crossmark Global Holdings Inc. cut its stake in shares of TechnipFMC plc (NYSE:FTI) by 10.5% in the fourth quarter, Holdings Channel reports. The firm owned 136,168 shares of the oil and gas company’s stock after selling 15,900 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in TechnipFMC were worth $6,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Focus Partners Wealth lifted its stake in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares during the period. Geneos Wealth Management Inc. grew its position in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the period. Sivia Capital Partners LLC grew its position in shares of TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after buying an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of TechnipFMC by 132.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Ossiam raised its position in shares of TechnipFMC by 52.0% in the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 546 shares during the period. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jonathan Landes sold 116,194 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.20, for a total value of $7,227,266.80. Following the completion of the transaction, the insider directly owned 71,356 shares of the company’s stock, valued at approximately $4,438,343.20. This represents a 61.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the transaction, the director owned 59,887 shares of the company’s stock, valued at approximately $4,151,366.84. This trade represents a 9.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,216,442 shares of company stock worth $75,762,414 in the last ninety days. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on FTI shares. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Barclays lifted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group set a $70.00 price target on shares of TechnipFMC in a report on Friday, February 20th. Finally, Piper Sandler upped their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $66.53.

TechnipFMC Price Performance

Shares of FTI opened at $70.18 on Monday. The stock has a 50 day simple moving average of $69.62 and a 200 day simple moving average of $56.04. TechnipFMC plc has a 52-week low of $28.87 and a 52-week high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a market capitalization of $27.98 billion, a PE ratio of 26.79, a P/E/G ratio of 1.42 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company posted $0.33 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that TechnipFMC plc will post 2.93 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th will be issued 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 is Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

About TechnipFMC

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.