Oliver Luxxe Assets LLC Decreases Stake in TechnipFMC plc (NYSE:FTI)

Oliver Luxxe Assets LLC cut its holdings in TechnipFMC plc (NYSE:FTI) by 7.7% during the first quarter, Holdings Channel reports. The institutional investor owned 153,047 shares of the oil and gas company’s stock after selling 12,801 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in TechnipFMC were worth $3,843,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of FTI. Johnson Financial Group Inc. purchased a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $33,000. Quarry LP boosted its stake in shares of TechnipFMC by 76.6% in the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 768 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $45,000. KBC Group NV purchased a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $163,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in TechnipFMC during the fourth quarter worth $203,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 5,928 shares of the company’s stock in a transaction dated 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 in the company, valued at $297,692.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is currently owned by insiders.

TechnipFMC Trading Up 0.1 %

TechnipFMC stock traded up $0.02 during trading on Monday, hitting $26.17. The company’s stock had a trading volume of 1,209,932 shares, compared to its average volume of 4,234,553. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 55.64 and a beta of 1.52. The stock’s fifty day moving average is $25.67 and its 200 day moving average is $23.12. TechnipFMC plc has a 1-year low of $16.04 and a 1-year high of $27.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The firm’s revenue was up 18.9% compared to the same quarter last year. As a group, equities research analysts predict that TechnipFMC plc will post 1.18 EPS for the current year.

TechnipFMC Announces Dividend

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

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen boosted their target price on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Barclays boosted their target price on TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Piper Sandler boosted their target price on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. Finally, Bank of America boosted their target price on 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 eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.21.

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.