Great Lakes Advisors LLC Lowers Holdings in TechnipFMC plc (NYSE:FTI)

Great Lakes Advisors LLC trimmed its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 95.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,152 shares of the oil and gas company's stock after selling 269,906 shares during the period. Great Lakes Advisors LLC's holdings in TechnipFMC were worth $381,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Baker Tilly Wealth Management LLC raised its holdings in shares of TechnipFMC by 4.1% during 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 buying an additional 338 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of TechnipFMC by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company's stock valued at $236,000 after buying an additional 357 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of TechnipFMC by 3.3% during the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company's stock valued at $334,000 after buying an additional 363 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of TechnipFMC by 22.3% during 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 in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of TechnipFMC by 3.8% during 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. 96.58% of the stock is owned by hedge funds and other institutional investors.

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TechnipFMC Stock Down 0.7 %

Shares of FTI traded down $0.19 during trading hours on Tuesday, hitting $28.03. The company had a trading volume of 1,242,177 shares, compared to its average volume of 4,231,980. The company has a market capitalization of $11.79 billion, a PE ratio of 18.44 and a beta of 1.54. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a one year low of $22.99 and a one year high of $33.45. The company's fifty day moving average price is $30.00 and its two-hundred day moving average price is $28.62.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Tuesday, March 18th. TechnipFMC's payout ratio is 10.42%.

Analyst Ratings Changes

A number of brokerages have commented on FTI. Evercore ISI lifted their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Jefferies Financial Group upgraded TechnipFMC from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Piper Sandler lifted their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Barclays lifted their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group started coverage on TechnipFMC in a research report on Friday, December 13th. They issued a "buy" rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, TechnipFMC currently has an average rating of "Buy" and a consensus target price of $36.31.

Insider Transactions at TechnipFMC

In other news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. This represents a 23.13 % 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, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The shares were 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 directly owns 7,529 shares in the company, valued at $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.06% 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.