Federated Hermes Inc. Sells 65,039 Shares of TechnipFMC plc (NYSE:FTI)

Federated Hermes Inc. reduced its stake in shares of TechnipFMC plc (NYSE:FTI) by 20.7% in the second quarter, Holdings Channel reports. The fund owned 249,697 shares of the oil and gas company’s stock after selling 65,039 shares during the quarter. Federated Hermes Inc.’s holdings in TechnipFMC were worth $6,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Oak Thistle LLC lifted 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 buying an additional 421 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of TechnipFMC by 5.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock valued at $246,000 after buying an additional 433 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of TechnipFMC by 73.1% during 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 in the last quarter. Quarry LP lifted its stake in shares of TechnipFMC by 76.6% during 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 in the last quarter. Finally, SG Americas Securities LLC lifted 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 valued at $5,617,000 after buying an additional 916 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Susquehanna upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Citigroup upped their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.38.

Insider Activity at TechnipFMC

In other TechnipFMC news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.06% of the stock is owned by insiders.

TechnipFMC Price Performance

FTI stock opened at $25.49 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $29.85. The firm’s fifty day moving average is $26.56 and its 200 day moving average is $25.76. The firm has a market cap of $10.98 billion, a P/E ratio of 54.22 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.23 billion. During the same quarter last year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Research analysts predict that TechnipFMC plc will post 1.34 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm 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 dividend yield of 0.78%. The ex-dividend date was Tuesday, August 20th. TechnipFMC’s dividend payout ratio is currently 42.55%.

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.