TechnipFMC plc $FTI Holdings Decreased by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its position in shares of TechnipFMC plc (NYSE:FTI) by 40.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,233 shares of the oil and gas company’s stock after selling 37,247 shares during the period. Sterling Capital Management LLC’s holdings in TechnipFMC were worth $3,749,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FTI. Harbor Investment Advisory LLC acquired a new stake in shares of TechnipFMC during the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC in the 3rd quarter valued at about $32,000. 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 valued at $35,000 after buying an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC during the fourth quarter worth about $41,000. Finally, Torren Management LLC bought a new position in TechnipFMC in the fourth quarter worth about $45,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $64.44 on Friday. The firm’s 50 day moving average is $70.39 and its two-hundred day moving average is $62.59. The firm has a market capitalization of $25.69 billion, a P/E ratio of 24.60, a PEG ratio of 1.38 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. Analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s payout ratio is 7.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FTI. Royal Bank Of Canada lifted their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. UBS Group set a $80.00 price target on TechnipFMC in a report on Wednesday, June 3rd. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday. Finally, Barclays increased 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. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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.