Two Sigma Investments LP Boosts Stake in TechnipFMC plc (NYSE:FTI)

Two Sigma Investments LP grew its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 272.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 467,888 shares of the oil and gas company's stock after acquiring an additional 342,203 shares during the quarter. Two Sigma Investments LP owned about 0.11% of TechnipFMC worth $13,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Park Avenue Securities LLC purchased a new position in TechnipFMC in the 4th quarter worth approximately $519,000. Merit Financial Group LLC bought a new stake in shares of TechnipFMC during the 4th quarter worth $410,000. Ballentine Partners LLC grew its position in TechnipFMC by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company's stock worth $337,000 after acquiring an additional 423 shares in the last quarter. SG Americas Securities LLC increased its stake in TechnipFMC by 23.8% in the fourth quarter. SG Americas Securities LLC now owns 18,929 shares of the oil and gas company's stock valued at $548,000 after acquiring an additional 3,635 shares during the last quarter. Finally, Mutual Advisors LLC raised its position in TechnipFMC by 12.7% during the fourth quarter. Mutual Advisors LLC now owns 11,795 shares of the oil and gas company's stock valued at $341,000 after purchasing an additional 1,325 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI traded up $0.40 during mid-day trading on Wednesday, hitting $30.65. 7,484,611 shares of the company's stock were exchanged, compared to its average volume of 4,021,467. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a fifty-two week low of $22.12 and a fifty-two week high of $33.45. The business's 50 day moving average is $28.44 and its two-hundred day moving average is $29.41. The firm has a market capitalization of $12.85 billion, a P/E ratio of 20.17 and a beta of 0.98.

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 analysts' consensus estimates 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 was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. On average, equities analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current 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 given 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 0.65%. TechnipFMC's dividend payout ratio (DPR) is 10.53%.

Insider Activity at TechnipFMC

In other news, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the sale, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the business's stock in a transaction dated 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 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.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FTI shares. Sanford C. Bernstein lowered TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research note on Thursday, May 22nd. Piper Sandler increased their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Monday, April 28th. Barclays upped their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, 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. Two investment 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.46.

TechnipFMC 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.