Franklin Resources Inc. decreased its position in TechnipFMC (NYSE:FTI) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,498,538 shares of the oil and gas company’s stock after selling 148,602 shares during the period. Franklin Resources Inc. owned 0.54% of TechnipFMC worth $78,164,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of FTI. CoreCommodity Management LLC raised its stake in TechnipFMC by 5.9% during the 4th quarter. CoreCommodity Management LLC now owns 43,135 shares of the oil and gas company’s stock worth $1,351,000 after acquiring an additional 2,385 shares in the last quarter. Caption Management LLC acquired a new position in TechnipFMC in the fourth quarter valued at $780,000. Arosa Capital Management LP purchased a new stake in shares of TechnipFMC in the fourth quarter valued at about $3,685,000. Thrivent Financial For Lutherans purchased a new stake in shares of TechnipFMC in the fourth quarter valued at about $554,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of TechnipFMC by 46.0% in the fourth quarter. Renaissance Technologies LLC now owns 943,000 shares of the oil and gas company’s stock valued at $29,525,000 after acquiring an additional 297,100 shares in the last quarter. 66.66% of the stock is owned by institutional investors.
FTI has been the topic of a number of research analyst reports. Royal Bank of Canada set a $34.00 price objective on shares of TechnipFMC and gave the stock a “buy” rating in a report on Thursday, December 21st. ValuEngine cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Societe Generale lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Susquehanna Bancshares set a $38.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Wolfe Research assumed coverage on shares of TechnipFMC in a research report on Wednesday, December 13th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $32.64.
In other TechnipFMC news, insider Richard G. Alabaster sold 12,000 shares of TechnipFMC stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $30.01, for a total transaction of $360,120.00. Following the completion of the transaction, the insider now directly owns 54,028 shares of the company’s stock, valued at $1,621,380.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dianne B. Ralston sold 16,650 shares of TechnipFMC stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $29.99, for a total value of $499,333.50. Following the completion of the transaction, the executive vice president now directly owns 105,105 shares of the company’s stock, valued at $3,152,098.95. The disclosure for this sale can be found here. Insiders have sold 47,150 shares of company stock worth $1,429,809 in the last quarter. Corporate insiders own 0.86% of the company’s stock.
FTI traded down $0.99 during midday trading on Friday, hitting $28.85. 3,491,586 shares of the company’s stock traded hands, compared to its average volume of 2,936,187. TechnipFMC has a one year low of $24.53 and a one year high of $35.00. The firm has a market cap of $13,461.18, a PE ratio of 22.36, a PEG ratio of 7.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.21 and a current ratio of 1.31.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.24). TechnipFMC had a return on equity of 6.05% and a net margin of 2.14%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the business posted $0.35 EPS. The company’s revenue was down 15.9% on a year-over-year basis. sell-side analysts anticipate that TechnipFMC will post 1.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 4th. Shareholders of record on Tuesday, March 20th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, March 19th. This represents a $0.52 dividend on an annualized basis and a yield of 1.80%. TechnipFMC’s dividend payout ratio is currently 40.31%.
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TechnipFMC Company Profile
TechnipFMC plc provides technologies, production systems, services, and solutions for the oil and gas industry worldwide. It operates in three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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