Wells Fargo & Company MN cut its stake in TechnipFMC PLC (NYSE:FTI) by 29.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,461,278 shares of the oil and gas company’s stock after selling 621,985 shares during the period. Wells Fargo & Company MN’s holdings in TechnipFMC were worth $34,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Icon Wealth Partners LLC purchased a new stake in shares of TechnipFMC in the first quarter valued at approximately $28,000. Moody National Bank Trust Division grew its position in shares of TechnipFMC by 802.0% in the first quarter. Moody National Bank Trust Division now owns 1,353 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,203 shares in the last quarter. CSat Investment Advisory L.P. grew its position in shares of TechnipFMC by 149.9% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,447 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 868 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of TechnipFMC in the first quarter valued at approximately $37,000. Finally, Advisor Group Inc. grew its position in shares of TechnipFMC by 30.0% in the first quarter. Advisor Group Inc. now owns 3,067 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 708 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.
A number of equities research analysts have recently issued reports on FTI shares. Wells Fargo & Co set a $26.00 price target on TechnipFMC and gave the company a “buy” rating in a research report on Friday, February 22nd. Morgan Stanley set a $31.00 price objective on TechnipFMC and gave the stock a “buy” rating in a research report on Tuesday, February 26th. ValuEngine lowered TechnipFMC from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Goldman Sachs Group assumed coverage on TechnipFMC in a research report on Sunday, March 10th. They issued a “buy” rating for the company. Finally, Seaport Global Securities reiterated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $31.80.
TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.24). TechnipFMC had a positive return on equity of 2.23% and a negative net margin of 16.17%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Sell-side analysts expect that TechnipFMC PLC will post 1.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.52 annualized dividend and a dividend yield of 2.31%.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
Featured Article: What are the benefits of momentum investing?
Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechnipFMC PLC (NYSE:FTI).
Receive News & Ratings for TechnipFMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechnipFMC and related companies with MarketBeat.com's FREE daily email newsletter.