Trexquant Investment LP Sells 204,556 Shares of TechnipFMC plc (NYSE:FTI)

Trexquant Investment LP reduced its position in TechnipFMC plc (NYSE:FTI - Free Report) by 17.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 939,079 shares of the oil and gas company's stock after selling 204,556 shares during the period. Trexquant Investment LP owned 0.22% of TechnipFMC worth $27,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of TechnipFMC during the 4th quarter valued at approximately $96,808,000. Vanguard Group Inc. boosted its holdings in shares of TechnipFMC by 4.1% in 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 acquiring an additional 1,623,864 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of TechnipFMC by 50.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company's stock valued at $66,842,000 after purchasing an additional 773,000 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of TechnipFMC by 68.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company's stock valued at $44,454,000 after purchasing an additional 688,622 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in TechnipFMC by 184.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,057,827 shares of the oil and gas company's stock worth $30,614,000 after purchasing an additional 685,330 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

Remove Ads

Insider Activity

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO David Light sold 10,147 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is currently owned by insiders.

TechnipFMC Trading Up 1.4 %

Shares of FTI traded up $0.46 during mid-day trading on Wednesday, reaching $32.63. The company's stock had a trading volume of 5,468,593 shares, compared to its average volume of 3,856,821. TechnipFMC plc has a 52 week low of $22.99 and a 52 week high of $33.45. The stock has a market cap of $13.72 billion, a PE ratio of 21.47 and a beta of 1.54. The company's fifty day moving average price is $29.55 and its two-hundred day moving average price is $29.07. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.61%. TechnipFMC's payout ratio is 10.42%.

Analysts Set New Price Targets

FTI has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 price target on the stock. Barclays raised their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a 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. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and lifted their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, Piper Sandler upped their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.31.

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.