TechnipFMC plc (NYSE:FTI) Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP cut its position in TechnipFMC plc (NYSE:FTI - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,831,933 shares of the oil and gas company's stock after selling 177,203 shares during the period. Wellington Management Group LLP owned about 0.44% of TechnipFMC worth $53,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Yousif Capital Management LLC boosted its position in shares of TechnipFMC by 4.6% during the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company's stock worth $236,000 after acquiring an additional 357 shares during the last quarter. Sigma Planning Corp boosted its position in shares of TechnipFMC by 3.3% during the fourth quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company's stock worth $334,000 after acquiring an additional 363 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of TechnipFMC by 55.2% during the fourth 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. V Square Quantitative Management LLC lifted its position in TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 563 shares during the last quarter. Finally, Foundry Partners LLC lifted its position in TechnipFMC by 4.4% during the fourth quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company's stock valued at $394,000 after purchasing an additional 577 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FTI has been the subject of several research reports. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a research report on Thursday, May 22nd. Susquehanna lowered their target price on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a report on Monday, April 14th. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Barclays raised 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. Two 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.46.

Insiders Place Their Bets

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now directly owns 140,207 shares of the company's stock, valued at $3,722,495.85. This trade represents a 23.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the sale, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,706 shares of company stock worth $1,651,665 in the last 90 days. 1.80% of the stock is owned by company insiders.

TechnipFMC Price Performance

FTI stock traded up $0.28 during trading on Monday, hitting $31.43. The stock had a trading volume of 2,079,795 shares, compared to its average volume of 4,028,612. The company's 50 day moving average price is $28.51 and its two-hundred day moving average price is $29.46. 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 $13.18 billion, a price-to-earnings ratio of 20.67 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.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the company earned $0.22 EPS. The company's revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

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.