California State Teachers Retirement System Sells 8,859 Shares of TechnipFMC plc (NYSE:FTI)

California State Teachers Retirement System lowered its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,491 shares of the oil and gas company's stock after selling 8,859 shares during the period. California State Teachers Retirement System owned about 0.10% of TechnipFMC worth $11,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FTI. Smartleaf Asset Management LLC grew its position in TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in TechnipFMC in the fourth quarter valued at $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC in the fourth quarter valued at $46,000. EverSource Wealth Advisors LLC grew its position in TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after purchasing an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 563 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of NYSE FTI traded down $0.22 during mid-day trading on Wednesday, reaching $31.60. 3,260,447 shares of the company were exchanged, compared to its average volume of 4,023,659. The company's 50-day simple moving average is $28.54 and its 200-day simple moving average is $29.52. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $13.25 billion, a P/E ratio of 20.79 and a beta of 1.06. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $33.45.

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

TechnipFMC Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Tuesday, May 20th. TechnipFMC's dividend payout ratio (DPR) is 10.53%.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 10,147 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now directly owns 100,951 shares in the company, valued at approximately $3,004,301.76. This represents 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 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on FTI. Susquehanna cut their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Barclays increased their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research note on Thursday, May 22nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Finally, Piper Sandler increased their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.46.

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.