TechnipFMC plc (NYSE:FTI) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 47.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,631,289 shares of the oil and gas company’s stock after selling 1,447,516 shares during the quarter. Driehaus Capital Management LLC’s holdings in TechnipFMC were worth $42,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new stake in shares of TechnipFMC in the 1st quarter valued at $29,000. GAMMA Investing LLC raised its holdings in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 492 shares during the period. ORG Partners LLC purchased a new stake in shares of TechnipFMC in the 2nd quarter valued at $33,000. Quarry LP raised its holdings in shares of TechnipFMC by 76.6% in the 4th 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 during the period. Finally, Crewe Advisors LLC purchased a new stake in shares of TechnipFMC in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $25.55 on Friday. The stock has a 50 day moving average of $26.39 and a two-hundred day moving average of $25.98. The stock has a market cap of $11.01 billion, a P/E ratio of 54.36 and a beta of 1.50. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $29.85. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.12. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, research analysts forecast that TechnipFMC plc will post 1.34 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, August 20th. TechnipFMC’s dividend payout ratio is presently 42.55%.

Analyst Ratings Changes

Several research firms recently issued reports on FTI. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup raised their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Susquehanna lifted their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.51.

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.