Lansforsakringar Fondforvaltning AB publ Invests $12.40 Million in TechnipFMC plc (NYSE:FTI)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 428,435 shares of the oil and gas company's stock, valued at approximately $12,399,000. Lansforsakringar Fondforvaltning AB publ owned 0.10% of TechnipFMC at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in shares of TechnipFMC by 31.5% during the 4th 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 bought a new position in shares of TechnipFMC during the 4th quarter worth about $96,808,000. Anomaly Capital Management LP lifted its holdings in shares of TechnipFMC by 46.5% during 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 during the period. AQR Capital Management LLC lifted its holdings in shares of TechnipFMC by 70.6% during the 4th quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company's stock worth $119,602,000 after acquiring an additional 1,710,183 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of TechnipFMC by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after acquiring an additional 1,623,864 shares during the period. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In other news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. The trade was a 57.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. This represents a 23.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 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

FTI traded up $0.07 during midday trading on Monday, hitting $31.22. The company had a trading volume of 4,567,933 shares, compared to its average volume of 4,037,706. 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 company has a market capitalization of $13.09 billion, a PE ratio of 20.54 and a beta of 0.98. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $33.45. The firm's 50-day simple moving average is $28.52 and its 200-day simple moving average is $29.48.

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

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, May 20th. TechnipFMC's payout ratio is presently 10.53%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a report on Thursday, May 22nd. Barclays raised their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a report on Monday, April 28th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Piper Sandler lifted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC has a consensus rating of "Moderate Buy" and an average price target of $36.46.

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.