TechnipFMC plc (NYSE:FTI) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 57.5% in the second quarter, Holdings Channel reports. The firm owned 14,141 shares of the oil and gas company’s stock after selling 19,130 shares during the period. Diversify Advisory Services LLC’s holdings in TechnipFMC were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FTI. Whittier Trust Co. purchased a new position in shares of TechnipFMC in the first quarter valued at approximately $29,000. GAMMA Investing LLC lifted its stake in shares of TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after buying an additional 492 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in TechnipFMC during the fourth quarter worth about $33,000. Quarry LP grew its stake in TechnipFMC by 76.6% during the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 768 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in TechnipFMC in the 4th quarter worth approximately $45,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Down 0.6 %

FTI stock traded down $0.16 during midday trading on Friday, hitting $25.98. The company’s stock had a trading volume of 1,455,051 shares, compared to its average volume of 4,205,086. TechnipFMC plc has a 52-week low of $17.74 and a 52-week high of $29.85. The firm has a 50-day simple moving average of $26.27 and a 200-day simple moving average of $24.68. 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 firm has a market capitalization of $11.20 billion, a P/E ratio of 55.28 and a beta of 1.52.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. As a group, equities analysts forecast that TechnipFMC plc will post 1.22 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, August 20th. TechnipFMC’s payout ratio is currently 42.55%.

Insider Buying and Selling at TechnipFMC

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America upped their target price on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. Barclays upped their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research note 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, Susquehanna upped their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $29.38.

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.