TechnipFMC plc (NYSE:FTI - Get Free Report) EVP Justin Rounce sold 42,178 shares of the 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 completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. This trade 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 at this hyperlink.
TechnipFMC Price Performance
FTI traded up $0.75 during midday trading on Friday, reaching $27.25. 3,922,787 shares of the company's stock were exchanged, compared to its average volume of 3,733,476. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market capitalization of $11.46 billion, a PE ratio of 17.92 and a beta of 1.54. The business's 50-day moving average price is $30.07 and its 200 day moving average price is $28.60. TechnipFMC plc has a 1-year low of $22.99 and a 1-year high of $33.45.
TechnipFMC Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC's payout ratio is currently 10.42%.
Wall Street Analysts Forecast Growth
FTI has been the topic of several research reports. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and raised their price objective for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Evercore ISI raised their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a "buy" rating and a $38.00 target price for the company. Piper Sandler raised their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, TD Cowen restated a "buy" rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Wednesday, November 27th. One investment 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 company's stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of "Buy" and an average target price of $36.31.
Check Out Our Latest Research Report on TechnipFMC
Hedge Funds Weigh In On TechnipFMC
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its position in TechnipFMC by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock worth $1,220,288,000 after acquiring an additional 365,527 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TechnipFMC by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after buying an additional 1,623,864 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of TechnipFMC by 31.5% during the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after buying an additional 3,962,315 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of TechnipFMC by 15.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock worth $282,150,000 after buying an additional 1,319,015 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of TechnipFMC by 1.7% during the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company's stock worth $215,100,000 after buying an additional 133,775 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.
About TechnipFMC
(
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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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