FIL Ltd Lowers Stock Holdings in TechnipFMC plc (NYSE:FTI)

FIL Ltd lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700,929 shares of the oil and gas company’s stock after selling 14,763 shares during the quarter. FIL Ltd owned about 0.16% of TechnipFMC worth $20,285,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 525 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $46,000. EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC raised its position in TechnipFMC by 48.2% in 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 acquiring an additional 563 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FTI. The Goldman Sachs Group began coverage on shares of TechnipFMC in a research 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 stock an “overweight” rating in a report on Friday, February 28th. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Barclays boosted their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Finally, Evercore ISI raised 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. Two equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.31.

Insider Activity

In related news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Light sold 10,147 shares of the company’s 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 transaction, the chief accounting officer now directly 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 sold a total of 61,706 shares of company stock valued at $1,651,665 over the last 90 days. Insiders own 1.80% of the company’s stock.

TechnipFMC Stock Up 3.5 %

FTI opened at $25.00 on Friday. The business’s fifty day simple moving average is $28.55 and its 200 day simple moving average is $28.98. TechnipFMC plc has a 52 week low of $22.12 and a 52 week high of $33.45. The firm has a market cap of $10.51 billion, a P/E ratio of 16.44 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.80%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

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.