California Public Employees Retirement System Sells 55,021 Shares of TechnipFMC plc (NYSE:FTI)

California Public Employees Retirement System lessened its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 745,807 shares of the oil and gas company's stock after selling 55,021 shares during the quarter. California Public Employees Retirement System owned about 0.18% of TechnipFMC worth $21,584,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Baker Tilly Wealth Management LLC increased its stake in shares of TechnipFMC by 4.1% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company's stock valued at $248,000 after acquiring an additional 338 shares during the last quarter. Yousif Capital Management LLC raised its holdings in TechnipFMC by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company's stock worth $236,000 after purchasing an additional 357 shares during the period. Sigma Planning Corp boosted its position in shares of TechnipFMC by 3.3% during the fourth quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company's stock worth $334,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of TechnipFMC by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock valued at $66,000 after buying an additional 414 shares during the period. Finally, Ballentine Partners LLC increased its position in shares of TechnipFMC by 3.8% in the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company's stock valued at $337,000 after buying an additional 423 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

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TechnipFMC Stock Performance

NYSE FTI traded down $0.00 on Tuesday, hitting $24.17. 1,183,867 shares of the stock were exchanged, compared to its average volume of 3,888,418. The business's fifty day moving average is $29.25 and its 200 day moving average is $29.11. TechnipFMC plc has a 52 week low of $22.99 and a 52 week high of $33.45. The company has a market capitalization of $10.16 billion, a PE ratio of 15.82 and a beta of 1.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Tuesday, March 18th. TechnipFMC's payout ratio is currently 10.42%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CAO David Light sold 10,147 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock worth $1,651,665 over the last 90 days. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. The Goldman Sachs Group started coverage on TechnipFMC in a report on Friday, December 13th. They issued a "buy" rating and a $38.00 price target for the company. StockNews.com downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Evercore ISI upped their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Barclays raised their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Finally, Piper Sandler upped their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. 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 company's stock. According to MarketBeat, TechnipFMC has a consensus rating of "Moderate Buy" and an average target price of $36.31.

TechnipFMC 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.