TechnipFMC plc (NYSE:FTI) Stock Position Raised by Bank of America Corp DE

Bank of America Corp DE lifted its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 90.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,026,516 shares of the oil and gas company's stock after acquiring an additional 963,513 shares during the period. Bank of America Corp DE owned approximately 0.48% of TechnipFMC worth $58,647,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in shares of TechnipFMC by 31.5% in the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock valued at $478,620,000 after buying an additional 3,962,315 shares in the last quarter. Algert Global LLC grew its position in shares of TechnipFMC by 11.8% during the 4th quarter. Algert Global LLC now owns 757,856 shares of the oil and gas company's stock worth $21,932,000 after buying an additional 80,156 shares during the period. Alyeska Investment Group L.P. grew its position in shares of TechnipFMC by 26.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,341,129 shares of the oil and gas company's stock valued at $38,812,000 after purchasing an additional 280,304 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of TechnipFMC in the 4th quarter valued at approximately $375,000. Finally, Freestone Grove Partners LP acquired a new position in shares of TechnipFMC in the 4th quarter valued at approximately $17,816,000. 96.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FTI shares. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Piper Sandler raised their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. StockNews.com cut TechnipFMC from a "hold" rating to a "sell" rating in a research note on Friday. Susquehanna dropped their price target on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Finally, Barclays boosted their target price on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.83.

Insider Buying and Selling

In related news, 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 transaction of $252,660.30. Following the sale, the chief accounting officer now owns 7,529 shares of the company's stock, valued at $187,472.10. The trade was a 57.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction on 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 directly owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Price Performance

Shares of NYSE:FTI traded down $0.22 during trading on Friday, reaching $31.33. 2,841,246 shares of the company's stock traded hands, compared to its average volume of 4,012,098. 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 fifty-two week low of $22.12 and a fifty-two week high of $33.45. The firm has a market cap of $13.13 billion, a PE ratio of 20.61 and a beta of 0.98. The company has a 50-day simple moving average of $28.11 and a 200-day simple moving average of $29.26.

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

TechnipFMC Announces Dividend

The firm also recently announced 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 is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC's payout ratio is 10.53%.

TechnipFMC Company 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.