Bank of Montreal Can Sells 248,017 Shares of TechnipFMC plc (NYSE:FTI)

Bank of Montreal Can cut its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 86.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,437 shares of the oil and gas company's stock after selling 248,017 shares during the period. Bank of Montreal Can's holdings in TechnipFMC were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its holdings in TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in TechnipFMC in the 4th quarter valued at about $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in TechnipFMC during the fourth quarter worth about $46,000. EverSource Wealth Advisors LLC increased its holdings in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after buying an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after acquiring an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Price Performance

Shares of FTI stock traded up $2.09 during mid-day trading on Thursday, hitting $27.12. 3,609,699 shares of the stock were exchanged, compared to its average volume of 3,972,287. The company has a market cap of $11.40 billion, a PE ratio of 17.81 and a beta of 1.11. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $33.45. The firm has a fifty day moving average of $27.63 and a 200 day moving average of $28.88. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.04). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. Research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Tuesday, May 20th. TechnipFMC's dividend payout ratio is presently 10.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FTI. Piper Sandler increased their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Susquehanna dropped their target price on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a report on Monday, April 14th. StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays boosted their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. Finally, Evercore ISI upped their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and an average price target of $36.15.

Insiders Place Their Bets

In other news, CAO David Light sold 10,147 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the 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 completion of the transaction, the director now directly owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. The trade was a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock worth $1,651,665 over the last three months. 1.80% of the stock is owned by insiders.

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.