TechnipFMC plc (NYSE:FTI) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,718,658 shares of the oil and gas company's stock after selling 283,979 shares during the quarter. Thrivent Financial for Lutherans owned 0.64% of TechnipFMC worth $78,678,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of TechnipFMC by 1.7% in the third 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 period. Pacer Advisors Inc. purchased a new stake in shares of TechnipFMC during the 3rd quarter worth approximately $185,643,000. Charles Schwab Investment Management Inc. grew its holdings in shares of TechnipFMC by 7.3% in 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 acquiring an additional 249,719 shares during the period. 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 purchasing an additional 679,748 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in TechnipFMC by 10.4% during the fourth quarter. Van ECK Associates Corp now owns 2,987,606 shares of the oil and gas company's stock worth $86,461,000 after purchasing an additional 281,665 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

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TechnipFMC Trading Up 0.1 %

NYSE:FTI traded up $0.02 during mid-day trading on Friday, reaching $29.31. The company's stock had a trading volume of 11,450,670 shares, compared to its average volume of 3,756,245. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45. The company's fifty day simple moving average is $29.74 and its two-hundred day simple moving average is $28.68. 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 market cap of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. TechnipFMC's payout ratio is 10.42%.

Insider Buying and Selling

In other news, EVP Justin Rounce sold 42,178 shares of the business'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 in the company, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David Light sold 10,147 shares of the stock in a transaction that occurred 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 directly owns 7,529 shares of the company's stock, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FTI has been the subject of several research reports. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and lifted their price target for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. 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 research note on Wednesday, January 15th. Piper Sandler upped their target price on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. TD Cowen reissued a "buy" rating and set a $37.00 price target on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Barclays upped their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $36.31.

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.