TechnipFMC plc (NYSE:FTI) Shares Sold by Great Lakes Advisors LLC

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

A number of other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,338 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of TechnipFMC by 39.1% during the fourth quarter. HighTower Advisors LLC now owns 33,090 shares of the oil and gas company's stock valued at $958,000 after acquiring an additional 9,296 shares during the last quarter. AGF Management Ltd. acquired a new position in shares of TechnipFMC during the fourth quarter valued at approximately $9,315,000. Daiwa Securities Group Inc. raised its holdings in shares of TechnipFMC by 176.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 41,400 shares of the oil and gas company's stock valued at $1,198,000 after acquiring an additional 26,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of TechnipFMC by 17.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,578 shares of the oil and gas company's stock valued at $3,152,000 after purchasing an additional 17,084 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

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Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David Light sold 10,147 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. 1.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FTI has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on TechnipFMC in a report on Friday, December 13th. They issued a "buy" rating and a $38.00 price target for the company. Jefferies Financial Group upgraded TechnipFMC from a "hold" rating to a "buy" rating and raised their price target for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. TD Cowen reiterated a "buy" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Piper Sandler boosted their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Barclays boosted their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $36.31.

TechnipFMC Price Performance

Shares of FTI traded up $0.17 on Wednesday, reaching $28.28. The stock had a trading volume of 240,469 shares, compared to its average volume of 3,703,555. The firm has a market capitalization of $11.89 billion, a PE ratio of 18.59 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. The firm has a 50-day moving average of $29.92 and a 200 day moving average of $28.63. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC's dividend payout ratio (DPR) is presently 10.42%.

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.