TechnipFMC plc $FTI Shares Sold by Renaissance Group LLC

Renaissance Group LLC lowered its holdings in shares of TechnipFMC plc (NYSE:FTI) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,410 shares of the oil and gas company’s stock after selling 13,241 shares during the period. Renaissance Group LLC’s holdings in TechnipFMC were worth $8,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FTI. Savvy Advisors Inc. bought a new position in TechnipFMC during the 3rd quarter worth approximately $708,000. Archford Capital Strategies LLC acquired a new position in shares of TechnipFMC in the 4th quarter worth approximately $1,691,000. Danske Bank A S bought a new stake in shares of TechnipFMC in the 3rd quarter valued at approximately $52,848,000. Farther Finance Advisors LLC increased its holdings in shares of TechnipFMC by 394.3% in the 4th quarter. Farther Finance Advisors LLC now owns 11,848 shares of the oil and gas company’s stock valued at $528,000 after acquiring an additional 9,451 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of TechnipFMC during the 4th quarter valued at approximately $833,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the subject of a number of research reports. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $49.00 to $62.00 in a report on Friday, February 20th. TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Evercore restated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.71.

TechnipFMC Stock Performance

Shares of FTI opened at $70.13 on Thursday. The firm has a market capitalization of $27.96 billion, a PE ratio of 26.77, a P/E/G ratio of 1.47 and a beta of 0.69. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $71.62 and a 200 day moving average price of $60.89. TechnipFMC plc has a 52-week low of $31.88 and a 52-week high of $77.78.

TechnipFMC (NYSE:FTI) last released its quarterly 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 the consensus estimate of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. TechnipFMC’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. On average, sell-side analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given a $0.05 dividend. 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 dividend payout ratio is 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.