Abacus FCF Advisors LLC Purchases 17,732 Shares of TechnipFMC plc (NYSE:FTI)

Abacus FCF Advisors LLC increased its position in TechnipFMC plc (NYSE:FTI - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,014 shares of the oil and gas company's stock after buying an additional 17,732 shares during the quarter. Abacus FCF Advisors LLC's holdings in TechnipFMC were worth $1,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 valued at $1,180,576,000 after buying an additional 1,623,864 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of TechnipFMC by 15.6% in 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. State Street Corp boosted its stake in TechnipFMC by 1.7% during the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company's stock valued at $215,100,000 after purchasing an additional 133,775 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of TechnipFMC by 1.2% in the 4th quarter. American Century Companies Inc. now owns 3,869,442 shares of the oil and gas company's stock worth $111,982,000 after purchasing an additional 46,224 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of TechnipFMC by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock valued at $105,618,000 after purchasing an additional 249,719 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

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Insider Activity

In related news, CAO David Light sold 10,147 shares of the 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 sale, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was 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 owns 140,207 shares of the company's stock, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,706 shares of company stock worth $1,651,665 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FTI shares. Piper Sandler boosted their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Barclays raised their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Susquehanna lowered their price target on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday. Evercore ISI lifted their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Finally, StockNews.com downgraded TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus target price of $36.15.

TechnipFMC Price Performance

Shares of FTI traded up $0.25 during trading hours on Monday, reaching $25.28. 603,460 shares of the stock traded hands, compared to its average volume of 3,908,999. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market cap of $10.63 billion, a P/E ratio of 16.63 and a beta of 1.11. The company's 50-day moving average price is $28.55 and its two-hundred day moving average price is $29.00.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.79%. TechnipFMC's payout ratio is 10.42%.

TechnipFMC Company 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.