Profund Advisors LLC Sells 1,455 Shares of TechnipFMC plc (NYSE:FTI)

Profund Advisors LLC lessened its holdings in TechnipFMC plc (NYSE:FTI) by 5.8% in the second quarter, Holdings Channel reports. The institutional investor owned 23,443 shares of the oil and gas company’s stock after selling 1,455 shares during the period. Profund Advisors LLC’s holdings in TechnipFMC were worth $613,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after acquiring an additional 3,259,348 shares during the last quarter. Norges Bank acquired a new position in TechnipFMC during the 4th quarter worth about $61,570,000. Balyasny Asset Management L.P. grew its position in shares of TechnipFMC by 868.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock valued at $63,082,000 after buying an additional 2,808,618 shares during the last quarter. TD Asset Management Inc increased its stake in shares of TechnipFMC by 182.8% in the fourth quarter. TD Asset Management Inc now owns 1,680,716 shares of the oil and gas company’s stock valued at $33,850,000 after buying an additional 1,086,400 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of TechnipFMC by 56.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock valued at $74,184,000 after buying an additional 1,068,788 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTI has been the topic of several analyst reports. Susquehanna upped their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a report on Friday, July 26th. Citigroup increased their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $29.51.

TechnipFMC Stock Performance

Shares of FTI opened at $27.81 on Wednesday. The stock has a 50-day moving average of $26.50 and a 200-day moving average of $25.96. TechnipFMC plc has a one year low of $18.33 and a one year high of $29.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The company has a market cap of $11.99 billion, a PE ratio of 59.17 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data 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 return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. On average, equities research analysts predict that TechnipFMC plc will post 1.34 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.72%. TechnipFMC’s payout ratio is 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.