Peregrine Capital Management LLC Sells 65,204 Shares of TechnipFMC plc $FTI

Peregrine Capital Management LLC lessened its holdings in TechnipFMC plc (NYSE:FTI) by 18.0% in the first quarter, Holdings Channel reports. The firm owned 296,264 shares of the oil and gas company’s stock after selling 65,204 shares during the period. TechnipFMC accounts for 0.8% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 24th largest holding. Peregrine Capital Management LLC’s holdings in TechnipFMC were worth $20,481,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC purchased a new position in TechnipFMC in the fourth quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new position in TechnipFMC in the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. increased its position in TechnipFMC by 45.3% in the first 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 last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TechnipFMC in the fourth quarter valued at $41,000. Finally, Torren Management LLC purchased a new position in shares of TechnipFMC during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $66.28 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC plc has a 52-week low of $31.88 and a 52-week high of $77.78. The company has a fifty day moving average of $70.16 and a 200-day moving average of $62.99. The stock has a market capitalization of $26.43 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 1.40 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. Equities research analysts expect that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were issued a $0.05 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is currently 7.63%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FTI shares. Piper Sandler lifted their price objective on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Susquehanna increased their price objective on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research report on Friday, May 1st. Barclays boosted their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Finally, Evercore reiterated an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

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.