Vaughan Nelson Investment Management L.P. Sells 84,980 Shares of TechnipFMC plc $FTI

by · The Markets Daily

Vaughan Nelson Investment Management L.P. cut its stake in shares of TechnipFMC plc (NYSE:FTIFree Report) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,153,708 shares of the oil and gas company’s stock after selling 84,980 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.29% of TechnipFMC worth $79,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FTI. Independent Advisor Alliance grew its stake in TechnipFMC by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock worth $2,730,000 after purchasing an additional 184 shares in the last quarter. Personal CFO Solutions LLC raised its position in TechnipFMC by 3.0% during the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 225 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of TechnipFMC by 5.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company’s stock worth $235,000 after buying an additional 262 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of TechnipFMC by 2.8% in the 4th quarter. Kestra Advisory Services LLC now owns 11,353 shares of the oil and gas company’s stock worth $506,000 after buying an additional 305 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total transaction of $440,182.00. Following the transaction, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. The trade was a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on FTI shares. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Piper Sandler raised their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Citigroup boosted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. Finally, Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

View Our Latest Research Report on TechnipFMC

TechnipFMC Trading Down 0.2%

NYSE:FTI opened at $65.05 on Monday. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78. The firm has a 50 day moving average of $71.14 and a 200 day moving average of $62.01. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $25.93 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.40 and a beta of 0.69.

TechnipFMC (NYSE:FTIGet Free Report) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. TechnipFMC’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. As a group, sell-side analysts anticipate that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

About TechnipFMC

(Free Report)

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.

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