Strs Ohio Trims Stake in TechnipFMC plc $FTI

Strs Ohio lowered its holdings in TechnipFMC plc (NYSE:FTI) by 37.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 203,886 shares of the oil and gas company’s stock after selling 122,915 shares during the period. Strs Ohio owned approximately 0.05% of TechnipFMC worth $14,095,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Harbor Investment Advisory LLC bought a new position in shares of TechnipFMC in the fourth quarter worth approximately $32,000. First Pacific Financial purchased a new stake in TechnipFMC in the first quarter valued at approximately $52,000. Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC during the third quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in TechnipFMC in the 4th quarter worth approximately $41,000. Finally, Torren Management LLC purchased a new position in TechnipFMC in the 4th quarter worth approximately $45,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 0.0%

FTI stock opened at $66.72 on Friday. The company has a market capitalization of $26.60 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC plc has a one year low of $31.88 and a one year high of $77.78. The company’s 50 day moving average price is $69.83 and its two-hundred day moving average price is $63.29.

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

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is 7.63%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FTI shares. Citigroup raised their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Royal Bank Of Canada increased their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Barclays lifted their price target on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.00.

TechnipFMC Company 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.