TechnipFMC plc (NYSE:FTI) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its position in TechnipFMC plc (NYSE:FTI - Free Report) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,074,378 shares of the oil and gas company's stock after selling 8,920 shares during the period. Lord Abbett & CO. LLC owned approximately 0.25% of TechnipFMC worth $31,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its position in 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 valued at $1,220,288,000 after acquiring an additional 365,527 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in TechnipFMC by 15.6% in the 4th 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 buying an additional 1,319,015 shares in the last quarter. Anomaly Capital Management LP lifted its stake in TechnipFMC by 46.5% during the 4th 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 acquiring an additional 2,306,342 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of TechnipFMC by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,920,929 shares of the oil and gas company's stock valued at $142,414,000 after purchasing an additional 138,556 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

TechnipFMC Price Performance

TechnipFMC stock traded down $0.59 during mid-day trading on Wednesday, reaching $28.21. 4,173,708 shares of the company's stock traded hands, compared to its average volume of 3,988,477. The stock has a 50 day moving average of $27.45 and a two-hundred day moving average of $28.92. 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 market cap of $11.86 billion, a price-to-earnings ratio of 18.56 and a beta of 1.11.

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 (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion during 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 for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 earnings per share. Equities analysts forecast 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. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. TechnipFMC's dividend payout ratio (DPR) is presently 10.53%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FTI. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Piper Sandler increased 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research report on Monday. Susquehanna reduced their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, Barclays raised their price objective on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.83.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction that occurred 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 transaction, the director now owns 100,951 shares of the company's stock, valued at $3,004,301.76. This represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of the company's stock in a transaction on 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 sale, the chief accounting officer now owns 7,529 shares of the company's stock, valued at $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by company insiders.

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.