PharVision Advisers LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,798 shares of the oil and gas company's stock, valued at approximately $312,000.
Other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its holdings in TechnipFMC by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock valued at $1,220,288,000 after acquiring an additional 365,527 shares during the period. Vanguard Group Inc. lifted its position in shares of TechnipFMC by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of TechnipFMC by 31.5% during 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 purchasing an additional 3,962,315 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of TechnipFMC by 15.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock valued at $282,150,000 after purchasing an additional 1,319,015 shares during the period. Finally, Anomaly Capital Management LP grew its holdings in shares of TechnipFMC by 46.5% in the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock valued at $210,295,000 after purchasing an additional 2,306,342 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CAO David Light sold 10,147 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at approximately $187,472.10. This represents a 57.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. This trade represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock worth $1,651,665 in the last ninety days. 1.80% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities research analysts have issued reports on FTI shares. Barclays increased their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Piper Sandler increased their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada reissued an "outperform" rating and set a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. StockNews.com lowered TechnipFMC from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, Susquehanna reduced their price target on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus target price of $36.83.
Get Our Latest Report on FTI
TechnipFMC Trading Down 2.6%
NYSE:FTI opened at $29.87 on Thursday. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $33.45. The stock has a market cap of $12.52 billion, a P/E ratio of 19.65 and a beta of 0.98. 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 stock has a 50-day simple moving average of $28.34 and a 200-day simple moving average of $29.34.
TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The business 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 business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. As a group, analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.
TechnipFMC Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, May 20th. TechnipFMC's dividend payout ratio (DPR) is 10.53%.
About TechnipFMC
(
Free Report)
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.
Further Reading
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