Fisher Asset Management LLC Sells 12,537 Shares of TechnipFMC plc (NYSE:FTI)

Fisher Asset Management LLC trimmed its stake in shares of TechnipFMC plc (NYSE:FTI) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 360,828 shares of the oil and gas company’s stock after selling 12,537 shares during the period. Fisher Asset Management LLC owned 0.08% of TechnipFMC worth $7,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of TechnipFMC in the fourth quarter worth about $37,976,000. Cerity Partners LLC bought a new position in shares of TechnipFMC during the 4th quarter valued at approximately $6,836,000. SG Americas Securities LLC grew its holdings in shares of TechnipFMC by 71.1% in the fourth quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company’s stock valued at $3,072,000 after purchasing an additional 63,378 shares in the last quarter. Syntal Capital Partners LLC bought a new stake in TechnipFMC in the third quarter worth $665,000. Finally, Vanguard Group Inc. raised its stake in TechnipFMC by 320.3% during the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock valued at $809,303,000 after purchasing an additional 30,323,011 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

Shares of FTI opened at $26.35 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The firm has a market cap of $11.36 billion, a PE ratio of 56.06 and a beta of 1.62. TechnipFMC plc has a 12 month low of $13.11 and a 12 month high of $27.26. The stock has a fifty day moving average price of $24.74 and a 200-day moving average price of $21.75.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Equities research analysts predict that TechnipFMC plc will post 1.16 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s payout ratio is 42.55%.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a research note on Friday, April 26th. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective for the company. in a research note on Friday, February 23rd. Susquehanna raised their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a report on Friday, April 26th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. Finally, Barclays boosted their target price on TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.21.

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.