Russell Investments Group Ltd. Acquires 253,519 Shares of TechnipFMC plc (NYSE:FTI)

Russell Investments Group Ltd. lifted its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 51.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 747,697 shares of the oil and gas company's stock after buying an additional 253,519 shares during the period. Russell Investments Group Ltd. owned 0.18% of TechnipFMC worth $21,638,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of TechnipFMC by 123.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 714,533 shares of the oil and gas company's stock valued at $20,679,000 after purchasing an additional 394,790 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TechnipFMC in the fourth quarter valued at $239,000. Systematic Alpha Investments LLC purchased a new position in shares of TechnipFMC during the fourth quarter valued at $207,000. Foundry Partners LLC lifted its stake in TechnipFMC by 4.4% in the 4th quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company's stock worth $394,000 after acquiring an additional 577 shares in the last quarter. Finally, Westpac Banking Corp purchased a new position in TechnipFMC during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Buying and Selling

In other TechnipFMC news, CAO David Light sold 10,147 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were 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 of the company's stock, 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. Insiders have sold a total of 61,706 shares of company stock worth $1,651,665 in the last 90 days. Corporate insiders own 1.80% of the company's stock.

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TechnipFMC Price Performance

Shares of TechnipFMC stock traded up $0.15 during mid-day trading on Tuesday, reaching $25.52. 1,077,117 shares of the stock were exchanged, compared to its average volume of 3,905,912. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 16.78 and a beta of 1.11. TechnipFMC plc has a fifty-two week low of $22.12 and a fifty-two week high of $33.45. The firm has a 50-day simple moving average of $28.43 and a 200 day simple moving average of $29.00.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were paid a $0.05 dividend. 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 (DPR) is presently 10.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FTI shares. Susquehanna cut their target price on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research report on Monday. Piper Sandler raised their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Barclays boosted their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. StockNews.com cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, Evercore ISI upped 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. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $36.15.

About TechnipFMC

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.