Great Lakes Advisors LLC Sells 269,906 Shares of TechnipFMC plc (NYSE:FTI)

Great Lakes Advisors LLC trimmed its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 95.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. bought a new stake in TechnipFMC during the 3rd quarter valued at approximately $185,643,000. Westfield Capital Management Co. LP bought a new position in shares of TechnipFMC during the third quarter valued at approximately $49,273,000. Jennison Associates LLC boosted its position in shares of TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company's stock worth $61,918,000 after purchasing an additional 1,150,049 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in TechnipFMC by 50.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company's stock worth $66,842,000 after acquiring an additional 773,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in TechnipFMC by 68.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company's stock worth $44,454,000 after purchasing an additional 688,622 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently commented on FTI shares. TD Cowen reiterated a "buy" rating and set a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Jefferies Financial Group upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and increased their price objective for the company 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 report on Friday, February 28th. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an "outperform" rating and a $37.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a "buy" rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $36.31.

TechnipFMC Price Performance

NYSE FTI traded up $1.03 on Monday, reaching $28.27. The company had a trading volume of 3,228,530 shares, compared to its average volume of 3,718,543. The firm's 50 day moving average price is $30.07 and its 200 day moving average price is $28.61. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The stock has a market capitalization of $11.89 billion, a PE ratio of 18.60 and a beta of 1.54. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.05 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. TechnipFMC's dividend payout ratio is currently 10.42%.

Insider Activity at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.06% of the stock is owned by corporate insiders.

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.