TechnipFMC plc (NYSE:FTI) Shares Sold by Harvest Investment Services LLC

Harvest Investment Services LLC decreased its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 79.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,843 shares of the oil and gas company's stock after selling 38,232 shares during the quarter. Harvest Investment Services LLC's holdings in TechnipFMC were worth $285,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in FTI. Franklin Resources Inc. increased its stake in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after buying an additional 679,748 shares during the period. Avantax Advisory Services Inc. raised its holdings in TechnipFMC by 24.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock worth $634,000 after purchasing an additional 4,314 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in TechnipFMC in the fourth quarter valued at about $519,000. Raymond James Financial Inc. purchased a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $9,152,000. Finally, Charles Schwab Investment Management Inc. raised its position in TechnipFMC by 7.3% in the fourth 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 acquiring an additional 249,719 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FTI. Piper Sandler upped their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Barclays boosted their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Susquehanna lowered their price objective on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Finally, 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 report on Wednesday, January 15th. Two investment 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, TechnipFMC has a consensus rating of "Moderate Buy" and a consensus target price of $36.15.

TechnipFMC Stock Up 2.1 %

FTI stock opened at $25.21 on Wednesday. TechnipFMC plc has a 12 month low of $22.12 and a 12 month high of $33.45. The firm has a 50 day simple moving average of $27.74 and a 200 day simple moving average of $28.91. The firm has a market cap of $10.60 billion, a PE ratio of 16.58 and a beta of 1.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.79%. TechnipFMC's dividend payout ratio (DPR) is currently 10.42%.

Insider Activity

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's 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 transaction, the director now owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. This trade represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 140,207 shares of the company's stock, valued at approximately $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 61,706 shares of company stock worth $1,651,665 over the last quarter. Corporate 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.

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