TechnipFMC plc (NYSE:FTI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in TechnipFMC plc (NYSE:FTI) by 17.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,465,563 shares of the oil and gas company’s stock after selling 311,041 shares during the quarter. New York State Common Retirement Fund owned 0.34% of TechnipFMC worth $29,516,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in shares of TechnipFMC in the 3rd quarter worth about $2,633,000. Ballentine Partners LLC bought a new stake in shares of TechnipFMC in the 3rd quarter worth about $203,000. Xponance Inc. increased its position in shares of TechnipFMC by 128.1% in the 3rd quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock worth $705,000 after purchasing an additional 19,451 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of TechnipFMC by 14.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock worth $264,000 after purchasing an additional 1,674 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TechnipFMC by 17.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock worth $1,820,000 after purchasing an additional 13,265 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the subject of several research analyst reports. Barclays boosted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective for the company. in a research report on Friday, February 23rd. StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. TD Cowen boosted their price objective on shares of TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.34.

TechnipFMC Trading Up 3.5 %

TechnipFMC stock opened at $26.63 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $24.07 and a two-hundred day moving average price of $21.50. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 221.94 and a beta of 1.65. TechnipFMC plc has a 52-week low of $12.64 and a 52-week high of $27.26.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.90 billion. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. Sell-side analysts expect that TechnipFMC plc will post 1.15 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s dividend payout ratio is currently 166.68%.

About TechnipFMC

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.