Freestone Grove Partners LP Invests $17.82 Million in TechnipFMC plc (NYSE:FTI)

Freestone Grove Partners LP acquired a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 615,611 shares of the oil and gas company's stock, valued at approximately $17,816,000. Freestone Grove Partners LP owned about 0.14% of TechnipFMC as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its position in TechnipFMC by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock valued at $1,220,288,000 after acquiring an additional 365,527 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in TechnipFMC by 15.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock worth $282,150,000 after purchasing an additional 1,319,015 shares during the period. Anomaly Capital Management LP grew its holdings in TechnipFMC by 46.5% in the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock valued at $210,295,000 after purchasing an additional 2,306,342 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of TechnipFMC by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,920,929 shares of the oil and gas company's stock valued at $142,414,000 after buying an additional 138,556 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Trading Down 1.4 %

FTI traded down $0.41 during trading hours on Monday, reaching $29.26. The company's stock had a trading volume of 4,438,795 shares, compared to its average volume of 3,993,682. The business's 50-day moving average is $27.48 and its 200-day moving average is $28.99. 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 $12.27 billion, a PE ratio of 19.25 and a beta of 0.98. TechnipFMC plc has a fifty-two week low of $22.12 and a fifty-two week high of $33.45.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. As a group, equities research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. TechnipFMC's dividend payout ratio is currently 10.53%.

Analysts Set New Price Targets

Several brokerages recently commented on FTI. Piper Sandler boosted their price target 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 lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays increased their target price on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Susquehanna dropped their price target on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Finally, Evercore ISI raised their price objective on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus price target of $36.83.

Insider Buying and Selling

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction 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 directly owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction 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 directly owns 7,529 shares of the company's stock, valued at $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,706 shares of company stock valued at $1,651,665. Company 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.