Franklin Resources Inc. Has $99.12 Million Stake in TechnipFMC plc (NYSE:FTI)

Franklin Resources Inc. reduced its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,426,476 shares of the oil and gas company's stock after selling 212,768 shares during the period. Franklin Resources Inc. owned 0.81% of TechnipFMC worth $99,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in TechnipFMC by 4.1% during the 4th 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 last quarter. State Street Corp grew its holdings in shares of TechnipFMC by 1.7% in 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 buying an additional 133,775 shares during the period. American Century Companies Inc. increased its position 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 valued at $111,982,000 after buying an additional 46,224 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in TechnipFMC by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock worth $105,618,000 after buying an additional 249,719 shares during the period. Finally, Norges Bank acquired a new position in TechnipFMC in the fourth quarter valued at about $96,808,000. Institutional investors own 96.58% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently commented on FTI. The Goldman Sachs Group began 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 lifted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. 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 report on Wednesday, January 15th. Piper Sandler increased their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, StockNews.com lowered 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.31.

TechnipFMC Stock Performance

Shares of FTI traded down $1.18 during trading hours on Monday, hitting $23.98. The company had a trading volume of 2,108,900 shares, compared to its average volume of 3,879,955. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 15.77 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The business has a fifty day moving average of $29.38 and a 200-day moving average of $29.13.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.83%. TechnipFMC's dividend payout ratio (DPR) is currently 10.42%.

Insider Buying and Selling

In other TechnipFMC news, CAO David Light sold 10,147 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction that occurred 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 sale, the executive vice president now owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,706 shares of company stock valued at $1,651,665. Insiders own 1.80% of the company's stock.

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.