TechnipFMC (NYSE:FTI) Trading Down 14.9% - Here's Why

TechnipFMC plc (NYSE:FTI - Get Free Report) traded down 14.9% during mid-day trading on Friday . The company traded as low as $24.90 and last traded at $25.08. 4,198,487 shares traded hands during trading, an increase of 8% from the average session volume of 3,874,430 shares. The stock had previously closed at $29.49.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a "buy" rating and a $38.00 price target for the company. Barclays upped their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Evercore ISI lifted their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.31.

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TechnipFMC Stock Up 13.1 %

The stock's 50 day moving average is $28.80 and its 200 day moving average is $29.01. 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 market cap of $11.03 billion, a price-to-earnings ratio of 17.25 and a beta of 1.11.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.76%. The ex-dividend date was Tuesday, March 18th. TechnipFMC's dividend payout ratio (DPR) is presently 10.42%.

Insider Activity

In related news, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. This trade represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,706 shares of company stock worth $1,651,665. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in TechnipFMC by 55.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 525 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of TechnipFMC in the fourth quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC during the fourth quarter valued at $46,000. EverSource Wealth Advisors LLC raised its position in 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 buying an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC lifted its stake in TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after acquiring an additional 563 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.