Cubist Systematic Strategies LLC Grows Position in TechnipFMC plc (NYSE:FTI)

Cubist Systematic Strategies LLC increased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 38.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 822,254 shares of the oil and gas company's stock after purchasing an additional 226,853 shares during the period. Cubist Systematic Strategies LLC owned 0.19% of TechnipFMC worth $23,796,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in 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 worth $478,620,000 after acquiring an additional 3,962,315 shares during the period. Norges Bank acquired a new stake in TechnipFMC in the fourth quarter valued at approximately $96,808,000. Anomaly Capital Management LP increased its holdings in TechnipFMC by 46.5% in the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after acquiring an additional 2,306,342 shares in the last quarter. AQR Capital Management LLC increased its position in shares of TechnipFMC by 70.6% during the fourth quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company's stock worth $119,602,000 after purchasing an additional 1,710,183 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock valued at $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Monday, April 28th. Barclays increased 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. Evercore ISI upped their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Piper Sandler upped their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Two 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 data from MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus price target of $36.83.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $29.26 on Tuesday. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $33.45. The firm has a market cap of $12.27 billion, a P/E ratio of 19.25 and a beta of 0.98. The firm's 50-day simple moving average is $27.51 and its 200-day simple moving average is $29.01. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 earnings per share. As a group, research analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Insider Transactions at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the sale, 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 SEC, which is available at this hyperlink. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.