Thornburg Investment Management Inc. Sells 87,468 Shares of TechnipFMC plc (NYSE:FTI)

Thornburg Investment Management Inc. reduced its position in TechnipFMC plc (NYSE:FTI - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 728,272 shares of the oil and gas company's stock after selling 87,468 shares during the period. Thornburg Investment Management Inc. owned approximately 0.17% of TechnipFMC worth $21,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of TechnipFMC by 0.9% in the 4th 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 period. Vanguard Group Inc. raised its stake in TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock valued at $1,180,576,000 after acquiring an additional 1,623,864 shares during the period. Ameriprise Financial Inc. boosted its position in shares of TechnipFMC by 31.5% in the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock valued at $478,620,000 after acquiring an additional 3,962,315 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in 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 worth $282,150,000 after purchasing an additional 1,319,015 shares during the last quarter. Finally, Anomaly Capital Management LP boosted its holdings in shares of TechnipFMC by 46.5% in 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 purchasing an additional 2,306,342 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of recent research reports. Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research report on Thursday. Barclays upped their price objective 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. Royal Bank of Canada reissued an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. 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 report on Monday, April 14th. Finally, Piper Sandler lifted their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.46.

Insider Activity at TechnipFMC

In other TechnipFMC news, CAO David Light sold 10,147 shares of the business's stock in a transaction dated 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 transaction, the chief accounting officer now owns 7,529 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the firm'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 sale, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. The trade was a 23.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Stock Down 0.1%

Shares of NYSE FTI traded down $0.03 on Friday, reaching $29.53. 798,218 shares of the company's stock traded hands, compared to its average volume of 3,994,189. 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 business's 50 day simple moving average is $28.37 and its two-hundred day simple moving average is $29.36. TechnipFMC plc has a 12 month low of $22.12 and a 12 month high of $33.45. The company has a market cap of $12.38 billion, a price-to-earnings ratio of 19.39 and a beta of 0.98.

TechnipFMC (NYSE:FTI - Get Free Report) last issued 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 the consensus estimate of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. As a group, equities research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors 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 0.68%. TechnipFMC's payout ratio is currently 10.53%.

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.