Alliancebernstein L.P. Has $76.99 Million Stock Position in TechnipFMC plc (NYSE:FTI)

Alliancebernstein L.P. cut its position in TechnipFMC plc (NYSE:FTI - Free Report) by 41.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,660,163 shares of the oil and gas company's stock after selling 1,862,348 shares during the quarter. Alliancebernstein L.P. owned 0.63% of TechnipFMC worth $76,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. Norges Bank bought a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $96,808,000. Vanguard Group Inc. lifted its holdings in TechnipFMC by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after acquiring an additional 1,623,864 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in TechnipFMC by 50.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company's stock valued at $66,842,000 after acquiring an additional 773,000 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of TechnipFMC by 184.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,057,827 shares of the oil and gas company's stock valued at $30,614,000 after purchasing an additional 685,330 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after purchasing an additional 679,748 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

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TechnipFMC Stock Performance

FTI traded up $0.31 during trading on Tuesday, hitting $24.48. The stock had a trading volume of 1,440,144 shares, compared to its average volume of 4,524,436. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The company has a 50 day simple moving average of $29.25 and a 200-day simple moving average of $29.11. The firm has a market cap of $10.29 billion, a PE ratio of 16.09 and a beta of 1.11.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.82%. TechnipFMC's dividend payout ratio (DPR) is presently 10.42%.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 10,147 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the transaction, the director now owns 100,951 shares of the company's stock, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,706 shares of company stock worth $1,651,665. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FTI shares. Evercore ISI increased their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. StockNews.com cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays lifted their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group began coverage on TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 price objective for the company. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.31.

About TechnipFMC

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.