Magnetar Financial LLC Sells 120,011 Shares of TechnipFMC plc (NYSE:FTI)

Magnetar Financial LLC lessened its position in TechnipFMC plc (NYSE:FTI - Free Report) by 90.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,313 shares of the oil and gas company's stock after selling 120,011 shares during the quarter. Magnetar Financial LLC's holdings in TechnipFMC were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in shares of TechnipFMC by 35.1% during the 4th quarter. Teacher Retirement System of Texas now owns 273,853 shares of the oil and gas company's stock valued at $7,925,000 after purchasing an additional 71,168 shares during the last quarter. Xponance Inc. grew its position in TechnipFMC by 24.4% during the fourth quarter. Xponance Inc. now owns 20,221 shares of the oil and gas company's stock valued at $585,000 after acquiring an additional 3,960 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of TechnipFMC by 336.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 35,266 shares of the oil and gas company's stock worth $1,021,000 after acquiring an additional 27,190 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of TechnipFMC in the 4th quarter worth approximately $529,000. Finally, Natixis Advisors LLC boosted its stake in shares of TechnipFMC by 77.8% in the 4th quarter. Natixis Advisors LLC now owns 194,442 shares of the oil and gas company's stock valued at $5,627,000 after purchasing an additional 85,112 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

Remove Ads

TechnipFMC Trading Up 1.6 %

Shares of FTI traded up $0.49 during trading hours on Tuesday, reaching $30.33. 1,759,124 shares of the company traded hands, compared to its average volume of 3,756,314. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. 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 company's fifty day moving average price is $29.69 and its two-hundred day moving average price is $28.73. The company has a market capitalization of $12.75 billion, a price-to-earnings ratio of 19.98 and a beta of 1.54.

TechnipFMC Dividend Announcement

The company 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. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.66%. TechnipFMC's dividend payout ratio (DPR) is 10.42%.

Insiders Place Their Bets

In other news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.06% of the company's stock.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of 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 report on Monday, March 3rd. Evercore ISI increased their target price on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and lifted their price target for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, The Goldman Sachs Group initiated coverage on TechnipFMC in a research note on Friday, December 13th. They set a "buy" rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of "Buy" and a consensus price target of $36.31.

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.