FIL Ltd Sells 14,763 Shares of TechnipFMC plc (NYSE:FTI)

FIL Ltd reduced its position in TechnipFMC plc (NYSE:FTI - Free Report) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 700,929 shares of the oil and gas company's stock after selling 14,763 shares during the quarter. FIL Ltd owned approximately 0.16% of TechnipFMC worth $20,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 valued at $1,180,576,000 after purchasing an additional 1,623,864 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 valued at $282,150,000 after buying an additional 1,319,015 shares in the last quarter. American Century Companies Inc. boosted its holdings in TechnipFMC by 1.2% in the 4th 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 period. Charles Schwab Investment Management Inc. raised its holdings in TechnipFMC by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock valued at $105,618,000 after acquiring an additional 249,719 shares during the period. Finally, Franklin Resources Inc. boosted its stake in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after purchasing an additional 679,748 shares during the period. 96.58% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

FTI has been the topic of a number of recent analyst reports. Piper Sandler raised their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. StockNews.com downgraded shares of 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 research note on Wednesday, January 15th. Susquehanna lowered their price target on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research report on Monday. Finally, Barclays upped their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Two investment 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.15.

TechnipFMC Trading Down 1.2 %

TechnipFMC stock traded down $0.31 during trading hours on Tuesday, reaching $25.06. The stock had a trading volume of 3,636,906 shares, compared to its average volume of 3,915,871. The stock has a market cap of $10.54 billion, a PE ratio of 16.49 and a beta of 1.11. The company has a fifty day simple moving average of $28.43 and a 200-day simple moving average of $29.00. 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 plc has a 52 week low of $22.12 and a 52 week high of $33.45.

TechnipFMC Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.80%. TechnipFMC's dividend payout ratio is presently 10.42%.

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the transaction, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 in the last 90 days. Insiders own 1.80% of the company's stock.

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.