ExodusPoint Capital Management LP Sells 150,962 Shares of TechnipFMC plc (NYSE:FTI)

ExodusPoint Capital Management LP reduced its position in TechnipFMC plc (NYSE:FTI - Free Report) by 20.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 573,863 shares of the oil and gas company's stock after selling 150,962 shares during the period. ExodusPoint Capital Management LP owned 0.13% of TechnipFMC worth $16,608,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FTI. Franklin Resources Inc. increased its stake 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 valued at $98,838,000 after purchasing an additional 679,748 shares during the period. Avantax Advisory Services Inc. lifted its position in TechnipFMC by 24.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock worth $634,000 after acquiring an additional 4,314 shares during the period. Park Avenue Securities LLC purchased a new position in shares of TechnipFMC in the 4th quarter valued at approximately $519,000. Raymond James Financial Inc. purchased a new stake in shares of TechnipFMC during the fourth quarter worth approximately $9,152,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of TechnipFMC by 7.3% during the fourth 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 purchasing an additional 249,719 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In related news, CAO David Light sold 10,147 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. This trade represents 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 business's stock in a transaction that occurred on 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 owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock worth $1,651,665 in the last three months. 1.80% of the stock is owned by company insiders.

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TechnipFMC Stock Performance

Shares of NYSE:FTI traded up $3.05 during trading on Wednesday, reaching $26.23. 9,997,807 shares of the company's stock traded hands, compared to its average volume of 3,924,132. The stock has a market capitalization of $11.03 billion, a P/E ratio of 17.25 and a beta of 1.11. TechnipFMC plc has a 12 month low of $22.12 and a 12 month high of $33.45. The company has a 50 day moving average of $28.80 and a 200-day moving average of $29.01. 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 Announces Dividend

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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Tuesday, March 18th. TechnipFMC's dividend payout ratio (DPR) is 10.42%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FTI. Evercore ISI increased their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Barclays increased their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. 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 report on Friday, February 28th. Finally, The Goldman Sachs Group started coverage on TechnipFMC in a research note on Friday, December 13th. They set a "buy" rating and a $38.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.31.

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.