TechnipFMC PLC (FTI) Holdings Trimmed by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in shares of TechnipFMC PLC (NYSE:FTI) by 29.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,464 shares of the oil and gas company’s stock after selling 44,870 shares during the period. Teacher Retirement System of Texas’ holdings in TechnipFMC were worth $2,481,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Morgan Stanley raised its stake in shares of TechnipFMC by 49.0% in the 3rd quarter. Morgan Stanley now owns 723,689 shares of the oil and gas company’s stock worth $22,616,000 after buying an additional 238,055 shares in the last quarter. Vanguard Group Inc raised its stake in shares of TechnipFMC by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 28,028,435 shares of the oil and gas company’s stock worth $875,888,000 after buying an additional 240,890 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of TechnipFMC by 33.8% in the 4th quarter. State of Alaska Department of Revenue now owns 34,334 shares of the oil and gas company’s stock worth $672,000 after buying an additional 8,675 shares in the last quarter. Virtu Financial LLC raised its stake in shares of TechnipFMC by 25.6% in the 4th quarter. Virtu Financial LLC now owns 16,375 shares of the oil and gas company’s stock worth $321,000 after buying an additional 3,339 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in shares of TechnipFMC by 817.2% in the 4th quarter. FNY Investment Advisers LLC now owns 100,000 shares of the oil and gas company’s stock worth $1,958,000 after buying an additional 89,097 shares in the last quarter. 70.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FTI stock traded up $0.65 on Tuesday, reaching $23.62. 86,696 shares of the company’s stock traded hands, compared to its average volume of 4,014,002. TechnipFMC PLC has a 12-month low of $18.20 and a 12-month high of $34.17. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.87 and a beta of 1.25.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.24). TechnipFMC had a negative net margin of 16.17% and a positive return on equity of 2.23%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the firm posted $0.28 EPS. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, sell-side analysts predict that TechnipFMC PLC will post 1.31 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.20%.

A number of analysts have recently commented on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $29.00 price objective on shares of TechnipFMC in a research note on Monday, April 29th. Barclays decreased their target price on TechnipFMC from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. ValuEngine upgraded TechnipFMC from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Wells Fargo & Co lifted their target price on TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Finally, HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $23.45 target price on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. TechnipFMC has an average rating of “Buy” and a consensus price target of $31.80.

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TechnipFMC Company Profile

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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