Oliver Luxxe Assets LLC Trims Holdings in TechnipFMC plc (NYSE:FTI)

Oliver Luxxe Assets LLC trimmed its position in TechnipFMC plc (NYSE:FTI) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,047 shares of the oil and gas company’s stock after selling 12,801 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in TechnipFMC were worth $3,843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $33,000. Quarry LP raised its position in shares of TechnipFMC by 76.6% during the fourth 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 during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $45,000. KBC Group NV bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $163,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $203,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FTI. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of TechnipFMC in a report on Friday, April 26th. Bank of America raised their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. Piper Sandler raised their target price on shares of TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 6th. TD Cowen raised their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Susquehanna raised their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

Insider Transactions at TechnipFMC

In related news, CAO David Light sold 5,928 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was 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 in the company, valued at $297,692.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.93% of the company’s stock.

TechnipFMC Trading Up 0.1 %

Shares of FTI traded up $0.02 during trading hours on Monday, reaching $26.17. 1,209,932 shares of the company traded hands, compared to its average volume of 4,234,553. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $25.67 and its 200 day moving average price is $23.12. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 55.64 and a beta of 1.52. TechnipFMC plc has a 12-month low of $16.04 and a 12-month high of $27.30.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. Sell-side analysts forecast that TechnipFMC plc will post 1.18 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. 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.