TechnipFMC plc (NYSE:FTI) Position Reduced by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in TechnipFMC plc (NYSE:FTI) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,215,235 shares of the oil and gas company’s stock after selling 78,937 shares during the period. Thrivent Financial for Lutherans owned 0.75% of TechnipFMC worth $84,079,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FTI. Whittier Trust Co. bought a new stake in TechnipFMC in the first quarter valued at about $29,000. GAMMA Investing LLC increased its holdings in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $33,000. ORG Partners LLC acquired a new stake in shares of TechnipFMC during the 2nd quarter valued at approximately $33,000. Finally, Quarry LP lifted its stake in TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FTI. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Susquehanna boosted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Finally, Citigroup raised their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.51.

TechnipFMC Trading Up 3.3 %

TechnipFMC stock opened at $27.22 on Friday. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $29.85. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 57.91 and a beta of 1.50. The firm has a 50-day moving average price of $26.53 and a two-hundred day moving average price of $25.85.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. Sell-side analysts expect that TechnipFMC plc will post 1.34 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were paid a $0.05 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.73%. TechnipFMC’s payout ratio is 42.55%.

Insider Activity

In related news, CAO David Light sold 5,928 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at $297,692.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.06% of the company’s stock.

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.