TechnipFMC plc (NYSE:FTI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its stake in TechnipFMC plc (NYSE:FTI) by 12.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,786 shares of the oil and gas company’s stock after selling 2,815 shares during the period. Maryland State Retirement & Pension System’s holdings in TechnipFMC were worth $627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. New York State Teachers Retirement System bought a new stake in shares of TechnipFMC during the first quarter valued at approximately $33,000. Quarry LP raised its holdings in shares of TechnipFMC by 95.9% during the fourth quarter. Quarry LP now owns 2,550 shares of the oil and gas company’s stock valued at $74,000 after buying an additional 1,248 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of TechnipFMC by 27.0% during the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock valued at $91,000 after buying an additional 614 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of TechnipFMC by 346.7% during the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company’s stock valued at $92,000 after buying an additional 2,219 shares during the last quarter. Finally, Acuitas Investments LLC raised its holdings in shares of TechnipFMC by 13.4% during the first quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 400 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Price Performance

NYSE FTI opened at $35.04 on Thursday. The stock has a market capitalization of $14.40 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.16 and a beta of 1.04. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The business’s fifty day moving average is $34.68 and its two-hundred day moving average is $30.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the company posted $0.43 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC’s payout ratio is presently 9.43%.

Insiders Place Their Bets

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the transaction, the director directly owned 62,978 shares in the company, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup reaffirmed a “buy” rating and set a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. BTIG Research cut TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Barclays boosted their target price on TechnipFMC from $45.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Sanford C. Bernstein cut TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a report on Thursday, May 22nd. Finally, Susquehanna boosted their target price on TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average price target of $38.92.

TechnipFMC 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.