1832 Asset Management L.P. Trims Stake in TechnipFMC plc (NYSE:FTI)

1832 Asset Management L.P. lessened its position in TechnipFMC plc (NYSE:FTI) by 50.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,863 shares of the oil and gas company’s stock after selling 27,872 shares during the quarter. 1832 Asset Management L.P.’s holdings in TechnipFMC were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FTI. US Bancorp DE lifted its position in TechnipFMC by 6.5% during the fourth quarter. US Bancorp DE now owns 66,367 shares of the oil and gas company’s stock valued at $1,337,000 after buying an additional 4,052 shares during the period. Hsbc Holdings PLC lifted its position in TechnipFMC by 319.4% during the 4th quarter. Hsbc Holdings PLC now owns 107,094 shares of the oil and gas company’s stock valued at $2,175,000 after acquiring an additional 81,560 shares during the period. TD Asset Management Inc boosted its stake in TechnipFMC by 182.8% during the fourth quarter. TD Asset Management Inc now owns 1,680,716 shares of the oil and gas company’s stock worth $33,850,000 after acquiring an additional 1,086,400 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in TechnipFMC by 37,201.8% in the fourth quarter. TFO Wealth Partners LLC now owns 21,262 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 21,205 shares during the period. Finally, Bank of Nova Scotia increased its stake in shares of TechnipFMC by 109.2% during the fourth quarter. Bank of Nova Scotia now owns 307,760 shares of the oil and gas company’s stock valued at $6,198,000 after purchasing an additional 160,657 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 5.9 %

Shares of TechnipFMC stock opened at $25.24 on Friday. TechnipFMC plc has a twelve month low of $18.33 and a twelve month 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 company’s 50 day moving average is $26.44 and its 200 day moving average is $25.96. The company has a market cap of $10.81 billion, a price-to-earnings ratio of 53.70 and a beta of 1.50.

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 the consensus estimate of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. Research analysts anticipate that TechnipFMC plc will post 1.34 EPS 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 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 0.79%. TechnipFMC’s dividend payout ratio is currently 42.55%.

Analyst Upgrades and Downgrades

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