Amalgamated Bank Sells 46,527 Shares of TechnipFMC plc (NYSE:FTI)

Amalgamated Bank trimmed its stake in shares of TechnipFMC plc (NYSE:FTI) by 66.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,495 shares of the oil and gas company’s stock after selling 46,527 shares during the period. Amalgamated Bank’s holdings in TechnipFMC were worth $614,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FTI. Norden Group LLC lifted its holdings in TechnipFMC by 2,899.1% during the 1st quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock worth $9,514,000 after buying an additional 366,266 shares in the last quarter. Vanguard Group Inc. raised its position in shares of TechnipFMC by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after acquiring an additional 126,247 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of TechnipFMC during the first quarter valued at $965,000. Balyasny Asset Management L.P. lifted its stake in shares of TechnipFMC by 868.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock valued at $63,082,000 after acquiring an additional 2,808,618 shares during the period. Finally, Seven Eight Capital LP boosted its holdings in TechnipFMC by 412.5% in the fourth quarter. Seven Eight Capital LP now owns 307,805 shares of the oil and gas company’s stock valued at $6,199,000 after acquiring an additional 247,744 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Up 1.2 %

TechnipFMC stock opened at $25.56 on Friday. The company has a 50 day moving average of $26.39 and a 200-day moving average of $26.01. 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 twelve month low of $18.33 and a twelve month high of $29.85. The stock has a market capitalization of $11.02 billion, a PE ratio of 54.38 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last released its 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. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The company’s revenue was up 17.9% on a year-over-year basis. On average, equities research analysts anticipate that TechnipFMC plc will post 1.34 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.78%. The ex-dividend date was Tuesday, August 20th. TechnipFMC’s payout ratio is 42.55%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FTI. Susquehanna increased their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a report on Friday, July 26th. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Citigroup raised 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 equities research 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 a consensus rating of “Moderate Buy” and an average target price of $29.51.

About TechnipFMC

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.