Prudential Financial Inc. Has $1.27 Million Stock Position in TechnipFMC plc (NYSE:FTI)

Prudential Financial Inc. cut its position in TechnipFMC plc (NYSE:FTI - Free Report) by 57.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,900 shares of the oil and gas company's stock after selling 58,326 shares during the period. Prudential Financial Inc.'s holdings in TechnipFMC were worth $1,270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised 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 buying an additional 1,623,864 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings 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 worth $66,842,000 after acquiring an additional 773,000 shares in the last quarter. Franklin Resources Inc. raised its position in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after purchasing an additional 679,748 shares during the period. Ninety One UK Ltd lifted its holdings in shares of TechnipFMC by 69.7% during the 4th quarter. Ninety One UK Ltd now owns 813,016 shares of the oil and gas company's stock valued at $23,529,000 after purchasing an additional 333,897 shares in the last quarter. Finally, AGF Management Ltd. acquired a new position in shares of TechnipFMC in the 4th quarter valued at approximately $9,315,000. 96.58% of the stock is owned by institutional investors.

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TechnipFMC Stock Up 3.5 %

FTI stock traded up $0.86 during mid-day trading on Friday, reaching $25.00. The company had a trading volume of 5,046,953 shares, compared to its average volume of 3,925,378. TechnipFMC plc has a 52 week low of $22.12 and a 52 week high of $33.45. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 16.44 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. The stock has a 50 day simple moving average of $28.55 and a two-hundred day simple moving average of $28.98.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were issued 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 payout ratio is 10.42%.

Insiders Place Their Bets

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 transaction of $1,119,825.90. Following the transaction, the executive vice president now owns 140,207 shares of the company's stock, valued at $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David Light sold 10,147 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the sale, 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 corporate insiders.

Wall Street Analysts Forecast Growth

FTI has been the topic of several research analyst reports. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a "buy" rating and a $38.00 target price on the stock. Piper Sandler boosted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Evercore ISI upped their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Barclays lifted their price target on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. Finally, StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and an average target price of $36.31.

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.