Vaughan Nelson Investment Management L.P. Reduces Stock Holdings in TechnipFMC plc (NYSE:FTI)

Vaughan Nelson Investment Management L.P. reduced its stake in shares of TechnipFMC plc (NYSE:FTI) by 58.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,235,381 shares of the oil and gas company’s stock after selling 1,718,975 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.29% of TechnipFMC worth $32,305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTI. GAMMA Investing LLC boosted its position in TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares in the last quarter. Inceptionr LLC grew its position in TechnipFMC by 2.2% during the fourth quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock valued at $496,000 after buying an additional 540 shares during the period. Quarry LP increased its holdings in 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. Janney Capital Management LLC raised its position in shares of TechnipFMC by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 27,688 shares of the oil and gas company’s stock worth $558,000 after acquiring an additional 839 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of TechnipFMC by 0.4% during the 2nd quarter. SG Americas Securities LLC now owns 214,794 shares of the oil and gas company’s stock worth $5,617,000 after acquiring an additional 916 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO David Light sold 5,928 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.06% of the company’s stock.

TechnipFMC Price Performance

FTI stock traded up $0.02 during mid-day trading on Friday, reaching $26.99. The company’s stock had a trading volume of 1,612,634 shares, compared to its average volume of 4,144,693. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $26.48 and its two-hundred day moving average is $24.95. TechnipFMC plc has a fifty-two week low of $17.74 and a fifty-two week high of $29.85. The stock has a market cap of $11.63 billion, a PE ratio of 57.43 and a beta of 1.52.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. Equities research analysts expect that TechnipFMC plc will post 1.22 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.74%. TechnipFMC’s payout ratio is 42.55%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Susquehanna lifted their price target on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. Citigroup boosted their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Barclays increased 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. Finally, Benchmark reissued a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.38.

TechnipFMC Company 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.