Wallace Advisory Group LLC Reduces Stake in TechnipFMC plc (NYSE:FTI)

Wallace Advisory Group LLC lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,017 shares of the oil and gas company’s stock after selling 590 shares during the period. Wallace Advisory Group LLC’s holdings in TechnipFMC were worth $471,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Oak Thistle LLC raised its stake in shares of TechnipFMC by 3.2% during the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 421 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of TechnipFMC by 5.1% in the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock valued at $246,000 after acquiring an additional 433 shares during the period. GAMMA Investing LLC grew its stake in TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares in the last quarter. Creative Planning increased its holdings in TechnipFMC by 3.2% during the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after acquiring an additional 546 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in TechnipFMC by 2.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock worth $702,000 after purchasing an additional 616 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of FTI stock traded up $0.38 during trading hours on Friday, hitting $27.38. 2,814,493 shares of the company’s stock were exchanged, compared to its average volume of 4,149,641. The company has a market capitalization of $11.80 billion, a PE ratio of 58.26 and a beta of 1.50. 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 plc has a 12-month low of $18.33 and a 12-month high of $29.85. The business’s 50 day simple moving average is $26.28 and its 200-day simple moving average is $26.10.

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

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.73%. The ex-dividend date was Tuesday, August 20th. TechnipFMC’s dividend payout ratio is presently 42.55%.

Analyst Upgrades and Downgrades

FTI has been the topic of several research analyst reports. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Susquehanna upped their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Finally, Citigroup lifted their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.51.

TechnipFMC 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.