CenterBook Partners LP Cuts Stake in TechnipFMC plc (NYSE:FTI)

CenterBook Partners LP decreased its position in TechnipFMC plc (NYSE:FTI - Free Report) by 33.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,101 shares of the oil and gas company's stock after selling 27,332 shares during the period. CenterBook Partners LP's holdings in TechnipFMC were worth $1,595,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after buying an additional 525 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in shares of TechnipFMC in the 4th quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in TechnipFMC in the 4th quarter valued at approximately $46,000. EverSource Wealth Advisors LLC lifted its stake 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 worth $49,000 after purchasing an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after buying an additional 563 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analysts Set New Price Targets

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

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TechnipFMC Stock Performance

NYSE FTI traded down $0.31 during trading hours on Tuesday, hitting $25.06. The company had a trading volume of 3,636,858 shares, compared to its average volume of 4,641,992. The business has a 50 day moving average of $28.43 and a 200-day moving average of $29.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $33.45. The company has a market cap of $10.54 billion, a PE ratio of 16.49 and a beta of 1.11.

TechnipFMC Dividend Announcement

The company also recently declared 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 was Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.80%. TechnipFMC's dividend payout ratio is presently 10.42%.

Insiders Place Their Bets

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the sale, the director now directly owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. This represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David Light sold 10,147 shares of the stock in a transaction dated 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 of the company's stock, valued at $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock valued at $1,651,665 over the last quarter. Company insiders own 1.80% of the company's stock.

TechnipFMC 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.