TechnipFMC plc (NYSE:FTI) Stake Cut by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. lessened its holdings in shares of TechnipFMC plc (NYSE:FTI) by 17.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,360 shares of the oil and gas company’s stock after selling 2,130 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in TechnipFMC were worth $271,000 at the end of the most recent quarter.

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

Insider Buying and Selling at TechnipFMC

In other news, CAO David Light sold 5,928 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the transaction, the chief accounting officer now directly owns 11,534 shares in the company, valued at $297,692.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.06% of the company’s stock.

TechnipFMC Trading Up 3.3 %

NYSE:FTI opened at $27.22 on Monday. The company’s 50 day moving average is $26.53 and its 200-day moving average is $25.88. 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 plc has a 12 month low of $18.33 and a 12 month high of $29.85. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 57.91 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, topping 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 firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 17.9% on a year-over-year basis. Equities analysts anticipate that TechnipFMC plc will post 1.34 EPS for the current year.

TechnipFMC Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FTI shares. Susquehanna lifted their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Citigroup lifted their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, StockNews.com downgraded 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.51.

TechnipFMC Company 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.