Federated Hermes Inc. Sells 23,119 Shares of TechnipFMC plc (NYSE:FTI)

Federated Hermes Inc. lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,260 shares of the oil and gas company’s stock after selling 23,119 shares during the period. Federated Hermes Inc. owned approximately 0.08% of TechnipFMC worth $7,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System boosted its holdings in TechnipFMC by 0.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 126,410 shares of the oil and gas company’s stock worth $2,571,000 after purchasing an additional 660 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of TechnipFMC by 6.8% in the 4th quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock worth $217,000 after buying an additional 683 shares during the last quarter. Janney Capital Management LLC grew its holdings in shares of TechnipFMC by 2.8% in the third quarter. Janney Capital Management LLC now owns 26,849 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 722 shares during the period. Dfpg Investments LLC increased its position in TechnipFMC by 2.4% during the fourth quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock valued at $623,000 after acquiring an additional 738 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in TechnipFMC by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 192,800 shares of the oil and gas company’s stock valued at $3,922,000 after acquiring an additional 980 shares during the period. Institutional investors own 96.58% of the company’s stock.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.93% of the company’s stock.

TechnipFMC Stock Down 0.5 %

Shares of FTI opened at $25.71 on Thursday. The business’s 50 day moving average is $23.93 and its 200 day moving average is $21.46. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. TechnipFMC plc has a 12-month low of $12.64 and a 12-month high of $27.26. The company has a market capitalization of $11.24 billion, a PE ratio of 214.27 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. Research analysts expect that TechnipFMC plc will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.05 per share. The ex-dividend date is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.78%. TechnipFMC’s payout ratio is 166.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FTI shares. Susquehanna reaffirmed a “positive” rating and set a $27.00 price target on shares of TechnipFMC in a research report on Monday, April 8th. Bank of America upped their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. TD Cowen upped their target price on shares of TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Finally, Barclays upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.34.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.