Profund Advisors LLC Sells 1,455 Shares of TechnipFMC plc (NYSE:FTI)

Profund Advisors LLC cut its stake in shares of TechnipFMC plc (NYSE:FTI) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,443 shares of the oil and gas company’s stock after selling 1,455 shares during the period. Profund Advisors LLC’s holdings in TechnipFMC were worth $613,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. bought a new stake in TechnipFMC in the 1st quarter valued at $29,000. GAMMA Investing LLC boosted its position in shares of TechnipFMC by 73.1% in the second 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 period. Johnson Financial Group Inc. acquired a new position in shares of TechnipFMC in the fourth quarter valued at about $33,000. ORG Partners LLC bought a new position in TechnipFMC during the second quarter worth about $33,000. Finally, Quarry LP raised its stake in TechnipFMC by 76.6% in the 4th 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 in the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TechnipFMC Price Performance

TechnipFMC stock opened at $27.81 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $29.85. The stock has a market capitalization of $11.99 billion, a P/E ratio of 59.17 and a beta of 1.50. The stock has a fifty day moving average of $26.50 and a 200-day moving average of $25.96.

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

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. TechnipFMC’s payout ratio is presently 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.