TechnipFMC (FTI) Holdings Cut by Swiss National Bank

Swiss National Bank trimmed its position in TechnipFMC (NYSE:FTI) by 13.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,418,904 shares of the oil and gas company’s stock after selling 214,200 shares during the period. Swiss National Bank owned about 0.30% of TechnipFMC worth $41,787,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FTI. Ladenburg Thalmann Financial Services Inc. grew its position in TechnipFMC by 153.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,949 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 2,392 shares in the last quarter. Amalgamated Bank bought a new stake in TechnipFMC in the 4th quarter worth about $215,000. Raymond James & Associates bought a new stake in TechnipFMC in the 4th quarter worth about $221,000. Mackenzie Financial Corp bought a new stake in TechnipFMC in the 4th quarter worth about $239,000. Finally, Mraz Amerine & Associates Inc. bought a new stake in TechnipFMC in the 4th quarter worth about $291,000. 66.51% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on FTI. Susquehanna Bancshares set a $39.00 price objective on shares of TechnipFMC and gave the stock a “buy” rating in a research report on Friday, April 13th. Barclays reiterated a “hold” rating and issued a $32.00 target price on shares of TechnipFMC in a research note on Tuesday, February 27th. ValuEngine cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. DNB Markets upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Finally, Macquarie upgraded shares of TechnipFMC from a “neutral” rating to an “outperform” rating in a research note on Monday, April 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $33.36.

Shares of FTI stock opened at $31.97 on Wednesday. The company has a market cap of $14.81 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 8.07 and a beta of 0.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.18 and a current ratio of 1.28. TechnipFMC has a 12 month low of $31.50 and a 12 month high of $32.19.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Wednesday, May 9th. The oil and gas company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). The business had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.11 billion. TechnipFMC had a net margin of 1.54% and a return on equity of 4.58%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. research analysts forecast that TechnipFMC will post 1.31 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 6th. Investors of record on Tuesday, May 22nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, May 21st. TechnipFMC’s payout ratio is currently 40.31%.

In related news, Director Richard A. Pattarozzi sold 18,500 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $30.83, for a total transaction of $570,355.00. Following the sale, the director now directly owns 80,581 shares in the company, valued at approximately $2,484,312.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dianne B. Ralston sold 16,650 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $29.99, for a total transaction of $499,333.50. Following the sale, the executive vice president now owns 105,105 shares in the company, valued at $3,152,098.95. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $1,429,809 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through 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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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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