Driehaus Capital Management LLC Decreases Stock Holdings in TechnipFMC plc (NYSE:FTI)

Driehaus Capital Management LLC lowered its stake in TechnipFMC plc (NYSE:FTI) by 47.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,631,289 shares of the oil and gas company’s stock after selling 1,447,516 shares during the quarter. Driehaus Capital Management LLC owned 0.38% of TechnipFMC worth $42,658,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Oak Thistle LLC boosted its holdings in shares of TechnipFMC by 3.2% in the second quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock worth $358,000 after buying an additional 421 shares during the last quarter. Pallas Capital Advisors LLC increased its position in TechnipFMC by 5.1% during the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock valued at $246,000 after acquiring an additional 433 shares during the last quarter. GAMMA Investing LLC increased its position in TechnipFMC by 73.1% during 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 last quarter. Vanguard Personalized Indexing Management LLC increased its position in TechnipFMC by 2.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock valued at $702,000 after acquiring an additional 616 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of TechnipFMC by 20.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,282 shares of the oil and gas company’s stock valued at $112,000 after purchasing an additional 733 shares during the period. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FTI. Susquehanna increased their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday, July 26th. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Citigroup raised their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.51.

TechnipFMC Price Performance

TechnipFMC stock opened at $25.55 on Friday. The company’s fifty day moving average price is $26.39 and its 200 day moving average price is $25.98. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $29.85. The stock has a market capitalization of $11.01 billion, a P/E ratio of 54.36 and a beta of 1.50. 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 (NYSE:FTI) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, equities research analysts anticipate that TechnipFMC plc will post 1.34 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, August 20th. TechnipFMC’s dividend 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.