Sherbrooke Park Advisers LLC lessened its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 43.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,235 shares of the oil and gas company's stock after selling 8,738 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in TechnipFMC were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC during the 4th quarter worth $46,000. Smartleaf Asset Management LLC boosted its stake in shares of TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of TechnipFMC during the 4th quarter worth $45,000. EverSource Wealth Advisors LLC boosted its stake in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after acquiring an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after acquiring an additional 563 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.
Analyst Upgrades and Downgrades
FTI has been the topic of several analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Susquehanna lowered their target price on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research note on Thursday. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Piper Sandler lifted their target price 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 equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $36.46.
Read Our Latest Stock Analysis on TechnipFMC
Insider Transactions at TechnipFMC
In related news, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This 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, Director Carvalho Filho Eleazar De sold 9,381 shares of the company'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 transaction, the director now owns 100,951 shares in the company, valued at $3,004,301.76. The trade was a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock worth $1,651,665 in the last three months. Insiders own 1.80% of the company's stock.
TechnipFMC Price Performance
FTI stock traded up $0.11 during mid-day trading on Friday, hitting $29.67. The company had a trading volume of 2,524,711 shares, compared to its average volume of 4,004,985. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of 19.52 and a beta of 0.98. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $33.45. 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 company has a 50-day moving average price of $28.40 and a 200 day moving average price of $29.39.
TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $2.26 billion. During the same quarter last year, the firm earned $0.22 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.
TechnipFMC Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders 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 dividend yield of 0.67%. TechnipFMC's dividend payout ratio (DPR) is presently 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.
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