TechnipFMC plc (NYSE:FTI) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,831,933 shares of the oil and gas company's stock after selling 177,203 shares during the period. Wellington Management Group LLP owned approximately 0.43% of TechnipFMC worth $53,016,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC lifted its position in TechnipFMC by 1,197.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 172,163 shares of the oil and gas company's stock valued at $4,982,000 after purchasing an additional 158,895 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in TechnipFMC during the fourth quarter valued at $6,646,000. SCP Investment LP lifted its position in TechnipFMC by 272.7% during the fourth quarter. SCP Investment LP now owns 32,800 shares of the oil and gas company's stock valued at $949,000 after purchasing an additional 24,000 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of TechnipFMC in the fourth quarter valued at $4,916,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of TechnipFMC by 184.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,057,827 shares of the oil and gas company's stock valued at $30,614,000 after acquiring an additional 685,330 shares during the period. Institutional investors own 96.58% of the company's stock.

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Analysts Set New Price Targets

FTI has been the topic of several recent analyst reports. 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 price target on the stock. Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. StockNews.com cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Evercore ISI lifted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Finally, Barclays lifted their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.31.

TechnipFMC Stock Performance

FTI traded down $1.92 during trading on Thursday, reaching $24.26. 1,157,361 shares of the company's stock were exchanged, compared to its average volume of 3,913,662. 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 $10.20 billion, a P/E ratio of 15.99 and a beta of 1.11. The company's fifty day simple moving average is $28.80 and its 200-day simple moving average is $29.01. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $33.45.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Tuesday, March 18th. TechnipFMC's dividend payout ratio (DPR) is 10.42%.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction that occurred on Monday, March 24th. The shares were 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 directly owns 100,951 shares of the company's stock, valued at $3,004,301.76. The trade was a 8.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,706 shares of company stock valued at $1,651,665 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

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.