Franklin Resources Inc. Reduces Stock Holdings in TechnipFMC plc (NYSE:FTI)

Franklin Resources Inc. reduced its holdings in TechnipFMC plc (NYSE:FTI – Get Rating) by 57.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,700,487 shares of the oil and gas company’s stock after selling 11,648,736 shares during the period. Franklin Resources Inc. owned about 1.95% of TechnipFMC worth $106,055,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Signaturefd LLC boosted its holdings in shares of TechnipFMC by 88.5% in the 4th quarter. Signaturefd LLC now owns 2,964 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 1,392 shares during the last quarter. Stephens Inc. AR purchased a new stake in shares of TechnipFMC in the 4th quarter valued at $54,000. Tower Research Capital LLC TRC boosted its holdings in shares of TechnipFMC by 199.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,612 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 4,404 shares during the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of TechnipFMC in the 1st quarter valued at $58,000. Finally, Captrust Financial Advisors boosted its holdings in shares of TechnipFMC by 65.1% in the 2nd quarter. Captrust Financial Advisors now owns 7,461 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 2,943 shares during the last quarter. 94.52% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

TechnipFMC stock opened at $13.88 on Friday. TechnipFMC plc has a 52-week low of $5.47 and a 52-week high of $16.03. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of -138.80 and a beta of 1.74. The company has a fifty day simple moving average of $13.49 and a 200-day simple moving average of $13.11. The company has a quick ratio of 0.93, a current ratio of 1.20 and a debt-to-equity ratio of 0.33.

TechnipFMC (NYSE:FTI – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). TechnipFMC had a negative net margin of 0.66% and a positive return on equity of 0.04%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the company posted ($0.12) EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities analysts anticipate that TechnipFMC plc will post 0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FTI shares. Cowen boosted their target price on shares of TechnipFMC from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. BTIG Research boosted their target price on shares of TechnipFMC from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 24th. Citigroup upped their price objective on shares of TechnipFMC from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. StockNews.com assumed coverage on shares of TechnipFMC in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Barclays upped their price objective on shares of TechnipFMC from $14.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average target price of $16.10.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 22,208 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $15.10, for a total value of $335,340.80. Following the completion of the sale, the director now owns 107,092 shares of the company’s stock, valued at $1,617,089.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.06% of the stock is currently owned by insiders.

TechnipFMC Company Profile

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TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.