Royal Bank of Canada Decreases Stock Holdings in TechnipFMC plc (NYSE:FTI)

Royal Bank of Canada decreased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 627,283 shares of the oil and gas company's stock after selling 19,433 shares during the period. Royal Bank of Canada owned about 0.15% of TechnipFMC worth $18,153,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FTI. T. Rowe Price Investment Management Inc. increased its holdings in shares of TechnipFMC by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock worth $1,220,288,000 after purchasing an additional 365,527 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 acquiring an additional 1,623,864 shares during the last quarter. Ameriprise Financial Inc. increased its stake in 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 acquiring an additional 3,962,315 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of TechnipFMC by 15.6% during 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 buying an additional 1,319,015 shares during the period. Finally, Anomaly Capital Management LP boosted its position in shares of TechnipFMC by 46.5% during 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 buying an additional 2,306,342 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Piper Sandler boosted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Susquehanna reduced their price objective 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. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Finally, Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research report on Thursday, May 22nd. Two investment 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 stock. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and an average target price of $36.46.

TechnipFMC Price Performance

Shares of FTI traded up $0.42 during mid-day trading on Thursday, hitting $31.14. 2,061,799 shares of the company were exchanged, compared to its average volume of 4,018,711. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. 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 50 day moving average of $28.46 and a 200-day moving average of $29.42. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 20.46 and a beta of 0.98.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. Analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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 issued a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. TechnipFMC's payout ratio is 10.53%.

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction that occurred on 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 sale, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the firm's 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 $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 quarter, insiders sold 61,706 shares of company stock worth $1,651,665. Insiders own 1.80% of the company's stock.

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.