Bridgewater Associates LP Cuts Holdings in TechnipFMC plc (NYSE:FTI)

Bridgewater Associates LP lowered its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 32.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 279,668 shares of the oil and gas company's stock after selling 135,555 shares during the quarter. Bridgewater Associates LP owned 0.07% of TechnipFMC worth $8,094,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FTI. Smartleaf Asset Management LLC lifted its stake in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in TechnipFMC in the 4th quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in TechnipFMC in the fourth quarter worth approximately $46,000. EverSource Wealth Advisors LLC grew its position in TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of TechnipFMC by 48.2% during 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. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Down 0.4 %

NYSE:FTI opened at $24.98 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm's 50-day moving average price is $28.20 and its 200-day moving average price is $28.94. The company has a market capitalization of $10.51 billion, a PE ratio of 16.43 and a beta of 1.11. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45.

TechnipFMC Dividend Announcement

The firm also recently announced 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 of this dividend was Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.80%. TechnipFMC's payout ratio is 10.42%.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. This represents a 8.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares of the company's stock, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock worth $1,651,665 in the last 90 days. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.

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