FIL Ltd Sells 14,763 Shares of TechnipFMC plc (NYSE:FTI)

FIL Ltd cut its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 700,929 shares of the oil and gas company's stock after selling 14,763 shares during the period. FIL Ltd owned 0.16% of TechnipFMC worth $20,285,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of TechnipFMC during the 4th quarter worth about $643,000. Ilmarinen Mutual Pension Insurance Co bought a new position in TechnipFMC during the fourth quarter worth about $1,361,000. Russell Investments Group Ltd. increased its position in TechnipFMC by 51.3% during the fourth quarter. Russell Investments Group Ltd. now owns 747,697 shares of the oil and gas company's stock worth $21,638,000 after buying an additional 253,519 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in TechnipFMC by 123.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 714,533 shares of the oil and gas company's stock valued at $20,679,000 after buying an additional 394,790 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $239,000. 96.58% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Justin Rounce sold 42,178 shares of TechnipFMC 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 transaction, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David Light sold 10,147 shares of the business'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 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. In the last ninety days, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by corporate insiders.

TechnipFMC Price Performance

Shares of NYSE FTI traded up $1.12 during mid-day trading on Thursday, reaching $26.11. The company had a trading volume of 1,059,043 shares, compared to its average volume of 3,936,439. TechnipFMC plc has a one year low of $22.12 and a one year high of $33.45. The business's 50-day simple moving average is $28.20 and its 200 day simple moving average is $28.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 17.13 and a beta of 1.11.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Tuesday, March 18th. TechnipFMC's payout ratio is presently 10.42%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FTI shares. Barclays increased their price target on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. Susquehanna decreased their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research note on Monday. Piper Sandler raised their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. StockNews.com downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Evercore ISI lifted their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC currently has an average rating of "Moderate Buy" and an average price target of $36.15.

About TechnipFMC

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.