Ameriprise Financial Inc. Buys 3,962,315 Shares of TechnipFMC plc (NYSE:FTI)

Ameriprise Financial Inc. lifted its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 31.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,538,230 shares of the oil and gas company's stock after buying an additional 3,962,315 shares during the period. Ameriprise Financial Inc. owned about 3.89% of TechnipFMC worth $478,620,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FTI. Baker Tilly Wealth Management LLC grew its stake in shares of TechnipFMC by 4.1% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company's stock worth $248,000 after purchasing an additional 338 shares during the period. Yousif Capital Management LLC boosted its stake in TechnipFMC by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company's stock worth $236,000 after acquiring an additional 357 shares during the last quarter. Sigma Planning Corp grew its holdings in TechnipFMC by 3.3% during the fourth quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company's stock valued at $334,000 after purchasing an additional 363 shares during the period. GAMMA Investing LLC raised its holdings in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock worth $66,000 after purchasing an additional 414 shares during the period. Finally, Ballentine Partners LLC raised its stake in TechnipFMC by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company's stock worth $337,000 after buying an additional 423 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

Insiders Place Their Bets

In related news, CAO David Light sold 10,147 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now owns 100,951 shares in the company, valued at $3,004,301.76. The trade was a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock worth $1,651,665 over the last three months. Insiders own 1.80% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI stock traded up $0.20 on Friday, reaching $29.90. The stock had a trading volume of 2,390,320 shares, compared to its average volume of 3,986,860. The firm's 50-day moving average is $27.54 and its two-hundred day moving average is $29.04. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 19.67 and a beta of 0.98. 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 plc has a 12 month low of $22.12 and a 12 month high of $33.45.

TechnipFMC (NYSE:FTI - Get Free Report) last posted 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). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company posted $0.22 EPS. The firm's revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.67%. TechnipFMC's dividend payout ratio is currently 10.53%.

Wall Street Analyst Weigh In

FTI has been the topic of several recent analyst reports. Susquehanna cut their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Barclays boosted their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. Piper Sandler boosted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $36.83.

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.