T. Rowe Price Investment Management Inc. Acquires 365,527 Shares of TechnipFMC plc (NYSE:FTI)

T. Rowe Price Investment Management Inc. lifted its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,166,132 shares of the oil and gas company's stock after purchasing an additional 365,527 shares during the period. TechnipFMC comprises approximately 0.8% of T. Rowe Price Investment Management Inc.'s investment portfolio, making the stock its 25th largest holding. T. Rowe Price Investment Management Inc. owned 9.91% of TechnipFMC worth $1,220,288,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FTI. Morse Asset Management Inc increased its holdings in TechnipFMC by 1.9% during the third quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company's stock worth $1,772,000 after buying an additional 1,245 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of TechnipFMC by 264.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company's stock worth $755,000 after purchasing an additional 20,877 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after purchasing an additional 679,748 shares during the period. GAMMA Investing LLC lifted its stake in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock valued at $66,000 after purchasing an additional 414 shares during the last quarter. Finally, Insight Wealth Strategies LLC bought a new position in TechnipFMC during the fourth quarter valued at $4,088,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Up 2.1 %

TechnipFMC stock opened at $25.21 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a fifty-two week low of $22.12 and a fifty-two week high of $33.45. The stock has a market cap of $10.60 billion, a P/E ratio of 16.58 and a beta of 1.11. The firm's fifty day moving average price is $27.74 and its 200-day moving average price is $28.91.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.79%. TechnipFMC's dividend payout ratio is currently 10.42%.

Analyst Ratings Changes

Several analysts have issued reports on FTI shares. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. Barclays boosted their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. Piper Sandler increased 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. StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Susquehanna dropped their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.15.

Insider Activity

In related 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 value of $1,119,825.90. Following the transaction, the executive vice president now owns 140,207 shares of the company's stock, valued at $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the sale, the director now owns 100,951 shares in the company, valued at $3,004,301.76. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by 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.

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