TechnipFMC plc (NYSE:FTI) Shares Purchased by Northern Trust Corp

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

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in TechnipFMC in the 4th quarter worth $96,808,000. Anomaly Capital Management LP lifted its stake in 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. Vanguard Group Inc. lifted 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 worth $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 purchasing an additional 1,319,015 shares in the last quarter. Finally, Yaupon Capital Management LP purchased a new stake in TechnipFMC in the 4th quarter worth $36,567,000. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of NYSE FTI traded up $0.20 during midday trading on Friday, reaching $29.90. The company had a trading volume of 3,203,823 shares, compared to its average volume of 3,999,851. The business's 50-day simple moving average is $27.60 and its 200 day simple moving average is $29.12. The stock has a market cap of $12.53 billion, a P/E ratio of 19.67 and a beta of 0.98. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $33.45. 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 (NYSE:FTI - Get Free Report) last released 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 business had revenue of $2.23 billion during 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 quarter in the previous year, the company earned $0.22 EPS. On average, analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.67%. TechnipFMC's dividend payout ratio is presently 10.53%.

Insider Activity at TechnipFMC

In other TechnipFMC news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at $187,472.10. The trade was a 57.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction dated 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 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. Over the last quarter, insiders have sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FTI. StockNews.com cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Royal Bank of Canada restated an "outperform" rating and set a $37.00 target price on shares of TechnipFMC in a research report on Monday, April 28th. Evercore ISI upped their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Piper Sandler upped their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Finally, Barclays upped 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. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.83.

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.