Fmr LLC Sells 1,381,502 Shares of TechnipFMC plc (NYSE:FTI)

FMR LLC lowered its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,884,519 shares of the oil and gas company's stock after selling 1,381,502 shares during the quarter. FMR LLC owned about 4.67% of TechnipFMC worth $575,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. raised its position in shares of 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 acquiring an additional 679,748 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in TechnipFMC by 24.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock worth $634,000 after purchasing an additional 4,314 shares in the last quarter. Park Avenue Securities LLC purchased a new position in TechnipFMC during the fourth quarter valued at $519,000. Raymond James Financial Inc. bought a new stake in shares of TechnipFMC during the 4th quarter valued at $9,152,000. Finally, Charles Schwab Investment Management Inc. grew its position 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 period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI traded up $0.45 during trading hours on Monday, hitting $25.48. The stock had a trading volume of 439,278 shares, compared to its average volume of 3,908,466. The firm has a market capitalization of $10.72 billion, a PE ratio of 16.76 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 plc has a 12 month low of $22.12 and a 12 month high of $33.45. The stock has a fifty day moving average price of $28.55 and a 200 day moving average price of $29.00.

Remove Ads

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.78%. TechnipFMC's dividend payout ratio is currently 10.42%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FTI shares. Barclays boosted their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, March 3rd. Piper Sandler boosted their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. 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, StockNews.com downgraded TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.31.

Insider Activity

In other news, CAO David Light sold 10,147 shares of the business's stock in a transaction 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 owns 7,529 shares of the company's stock, valued at $187,472.10. The trade was a 57.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was 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 approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. 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 quarter. 1.80% of the stock is currently owned by insiders.

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.