TechnipFMC plc $FTI Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in TechnipFMC plc (NYSE:FTI) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,683,999 shares of the oil and gas company’s stock after selling 488,214 shares during the period. Bank of New York Mellon Corp’s holdings in TechnipFMC were worth $119,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Savvy Advisors Inc. purchased a new stake in shares of TechnipFMC during the third quarter valued at approximately $708,000. Archford Capital Strategies LLC purchased a new position in TechnipFMC in the 4th quarter worth approximately $1,691,000. Danske Bank A S bought a new position in TechnipFMC in the 3rd quarter valued at approximately $52,848,000. Farther Finance Advisors LLC boosted its stake in TechnipFMC by 394.3% during the 4th quarter. Farther Finance Advisors LLC now owns 11,848 shares of the oil and gas company’s stock valued at $528,000 after purchasing an additional 9,451 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in TechnipFMC during the 4th quarter valued at $833,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Transactions at TechnipFMC

In related news, CFO Alf Melin sold 43,554 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total value of $2,749,564.02. Following the sale, the chief financial officer directly owned 238,983 shares in the company, valued at approximately $15,086,996.79. The trade was a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the transaction, the director directly owned 59,887 shares of the company’s stock, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by insiders.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $66.76 on Monday. The company has a market capitalization of $26.62 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.44 and a beta of 0.69. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $71.66 and its 200-day simple moving average is $60.36. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. As a group, analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s payout ratio is 7.63%.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Piper Sandler lifted their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Wednesday, May 6th. Finally, Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.71.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.