Engineers Gate Manager LP Sells 28,465 Shares of TechnipFMC plc $FTI

Engineers Gate Manager LP lessened its holdings in TechnipFMC plc (NYSE:FTI) by 24.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,330 shares of the oil and gas company’s stock after selling 28,465 shares during the quarter. Engineers Gate Manager LP’s holdings in TechnipFMC were worth $5,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Focus Partners Advisor Solutions LLC purchased a new position in TechnipFMC in the second quarter valued at approximately $3,470,000. Chase Investment Counsel Corp purchased a new stake in TechnipFMC in the second quarter worth $12,397,000. Globeflex Capital L P purchased a new stake in TechnipFMC in the second quarter worth $1,011,000. Proficio Capital Partners LLC bought a new stake in shares of TechnipFMC in the second quarter valued at $1,301,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of TechnipFMC during the 2nd quarter valued at $8,407,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI opened at $76.37 on Friday. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.70. The stock’s 50-day simple moving average is $74.55 and its 200 day simple moving average is $71.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The stock has a market capitalization of $29.95 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.51 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 6.94%.

Analyst Ratings Changes

FTI has been the subject of several research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Susquehanna cut their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings lowered shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, August 27th. Finally, UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

Insider Activity

In other TechnipFMC news, Director Eric Mullins bought 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

TechnipFMC Profile

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.

The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.