Capital Fund Management S.A. Purchases New Shares in TechnipFMC plc (NYSE:FTI)

Capital Fund Management S.A. acquired a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 309,175 shares of the oil and gas company's stock, valued at approximately $8,948,000. Capital Fund Management S.A. owned 0.07% of TechnipFMC at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of TechnipFMC by 4.1% during 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 purchasing an additional 1,623,864 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in TechnipFMC by 15.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock worth $282,150,000 after acquiring an additional 1,319,015 shares during the period. American Century Companies Inc. raised its holdings in TechnipFMC by 1.2% during the fourth quarter. American Century Companies Inc. now owns 3,869,442 shares of the oil and gas company's stock worth $111,982,000 after buying an additional 46,224 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of TechnipFMC by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock worth $105,618,000 after buying an additional 249,719 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after acquiring an additional 679,748 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

TechnipFMC Trading Down 1.2 %

TechnipFMC stock traded down $0.31 during midday trading on Tuesday, reaching $25.06. The stock had a trading volume of 3,636,906 shares, compared to its average volume of 3,921,724. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $33.45. The company has a fifty day moving average of $28.43 and a 200 day moving average of $29.00. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 16.49 and a beta of 1.11. 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 Dividend Announcement

The firm also recently disclosed 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 0.80%. The ex-dividend date was Tuesday, March 18th. TechnipFMC's payout ratio is currently 10.42%.

Insider Buying and Selling at TechnipFMC

In related news, CAO David Light sold 10,147 shares of the business'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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents 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 valued at $1,651,665 in the last quarter. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Susquehanna cut their target price on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research report on Monday. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays raised their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Evercore ISI raised their price objective on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. 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 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, TechnipFMC presently has a consensus rating of "Moderate Buy" and an average target price of $36.15.

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.