Northern Trust Corp Increases Stock Holdings in TechnipFMC plc (NYSE:FTI)

Northern Trust Corp grew its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 34.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,658,740 shares of the oil and gas company's stock after acquiring an additional 681,180 shares during the quarter. Northern Trust Corp owned 0.62% of TechnipFMC worth $76,944,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. The Manufacturers Life Insurance Company increased its position in shares of TechnipFMC by 1.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 65,541 shares of the oil and gas company's stock valued at $1,897,000 after acquiring an additional 1,231 shares during the period. Quarry LP increased its holdings in shares of TechnipFMC by 95.9% in the fourth quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after purchasing an additional 1,248 shares during the period. Aquatic Capital Management LLC increased its holdings in shares of TechnipFMC by 426.7% in the fourth quarter. Aquatic Capital Management LLC now owns 113,267 shares of the oil and gas company's stock valued at $3,278,000 after purchasing an additional 91,761 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of TechnipFMC during the fourth quarter worth about $301,000. Finally, Voya Investment Management LLC boosted its position in TechnipFMC by 1.8% in the fourth quarter. Voya Investment Management LLC now owns 959,595 shares of the oil and gas company's stock valued at $27,771,000 after buying an additional 16,764 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction dated Monday, March 24th. The shares were 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 owns 100,951 shares in the company, valued at approximately $3,004,301.76. This represents a 8.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock valued at $1,651,665 over the last ninety days. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Barclays boosted their target price 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 price target on shares of TechnipFMC in a research report on Monday, April 28th. Evercore ISI boosted their price objective on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Finally, Piper Sandler raised their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.83.

TechnipFMC Price Performance

TechnipFMC stock opened at $29.26 on Tuesday. The stock has a market capitalization of $12.27 billion, a P/E ratio of 19.25 and a beta of 0.98. The company's fifty day moving average price is $27.51 and its 200 day moving average price is $29.01. 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 plc has a 1 year low of $22.12 and a 1 year high of $33.45.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results 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). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business earned $0.22 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders 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 annualized dividend and a dividend yield of 0.68%. TechnipFMC's dividend payout ratio (DPR) 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.

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