TechnipFMC plc (NYSE:FTI) is Sagefield Capital LP’s 8th Largest Position

Sagefield Capital LP raised its position in TechnipFMC plc (NYSE:FTI) by 27.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,469,217 shares of the oil and gas company’s stock after buying an additional 318,813 shares during the period. TechnipFMC makes up about 4.1% of Sagefield Capital LP’s holdings, making the stock its 8th biggest holding. Sagefield Capital LP owned approximately 0.34% of TechnipFMC worth $38,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. Norges Bank purchased a new position in TechnipFMC in the 4th quarter valued at about $61,570,000. Aigen Investment Management LP bought a new position in shares of TechnipFMC during the fourth quarter worth about $208,000. US Bancorp DE lifted its position in shares of TechnipFMC by 6.5% during the fourth quarter. US Bancorp DE now owns 66,367 shares of the oil and gas company’s stock worth $1,337,000 after purchasing an additional 4,052 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of TechnipFMC during the fourth quarter worth about $33,000. Finally, Hsbc Holdings PLC lifted its position in shares of TechnipFMC by 319.4% during the fourth quarter. Hsbc Holdings PLC now owns 107,094 shares of the oil and gas company’s stock worth $2,175,000 after purchasing an additional 81,560 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the sale, the chief accounting officer now owns 11,534 shares in the company, valued at $297,692.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

TechnipFMC Price Performance

FTI opened at $27.37 on Tuesday. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 58.23 and a beta of 1.50. TechnipFMC plc has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The company’s 50-day moving average price is $26.51 and its 200 day moving average price is $25.92. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

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

TechnipFMC Announces Dividend

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

TechnipFMC Profile

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.