Robotti Robert Sells 18,030 Shares of TechnipFMC plc (NYSE:FTI)

Robotti Robert decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 3.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 531,327 shares of the oil and gas company’s stock after selling 18,030 shares during the quarter. TechnipFMC makes up about 1.8% of Robotti Robert’s investment portfolio, making the stock its 9th biggest holding. Robotti Robert’s holdings in TechnipFMC were worth $13,342,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FTI. Spirit of America Management Corp NY acquired a new position in TechnipFMC during the fourth quarter valued at approximately $322,000. Oak Thistle LLC bought a new position in shares of TechnipFMC in the fourth quarter valued at $1,097,000. TriaGen Wealth Management LLC acquired a new position in TechnipFMC during the fourth quarter worth $302,000. International Assets Investment Management LLC bought a new stake in TechnipFMC during the fourth quarter worth $203,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC in the fourth quarter valued at $203,000. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. TD Cowen upped their price objective on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Piper Sandler lifted their target price on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Citigroup increased their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Bank of America lifted their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.62.

Insider Buying and Selling

In other TechnipFMC news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the transaction, the chief accounting officer now directly owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.06% of the stock is currently owned by company insiders.

TechnipFMC Stock Performance

NYSE:FTI traded up $0.48 during mid-day trading on Monday, reaching $29.35. 5,230,671 shares of the company’s stock were exchanged, compared to its average volume of 4,196,759. TechnipFMC plc has a one year low of $17.51 and a one year high of $29.41. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. The business’s fifty day simple moving average is $26.08 and its two-hundred day simple moving average is $24.22. The firm has a market capitalization of $12.65 billion, a PE ratio of 62.45 and a beta of 1.52.

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. The company had revenue of $2.33 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. Analysts anticipate that TechnipFMC plc will post 1.2 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

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.