Allspring Global Investments Holdings LLC lowered its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 85.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,862 shares of the oil and gas company's stock after selling 35,573 shares during the period. Allspring Global Investments Holdings LLC's holdings in TechnipFMC were worth $118,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the business. Parkside Financial Bank & Trust acquired a new position in TechnipFMC in the 3rd quarter worth about $29,000. Systematic Alpha Investments LLC bought a new stake in shares of TechnipFMC in the 3rd quarter valued at about $146,000. Ballentine Partners LLC bought a new stake in shares of TechnipFMC in the 3rd quarter valued at about $203,000. International Assets Investment Management LLC bought a new stake in shares of TechnipFMC in the 4th quarter valued at about $203,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TechnipFMC in the 4th quarter valued at about $203,000. Institutional investors and hedge funds own 96.58% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Barclays upped their price target on TechnipFMC from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday. Bank of America upped their target price on TechnipFMC from $24.00 to $28.50 and gave the company a "buy" rating in a research report on Monday, April 15th. StockNews.com upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Sunday. TD Cowen upped their target price on TechnipFMC from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday. Finally, Susquehanna upped their target price on TechnipFMC from $27.00 to $34.00 and gave the company a "positive" rating in a research report on Friday. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and an average price target of $26.14.
Read Our Latest Report on FTI
Insider Buying and Selling at TechnipFMC
In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares of the company's stock, valued at $2,204,418.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is owned by corporate insiders.
TechnipFMC Stock Performance
Shares of FTI traded up $0.02 on Monday, reaching $26.61. 4,052,759 shares of the company's stock traded hands, compared to its average volume of 4,709,603. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. The stock has a market cap of $11.63 billion, a PE ratio of 56.62 and a beta of 1.65. The stock's 50 day simple moving average is $24.35 and its two-hundred day simple moving average is $21.61. TechnipFMC plc has a 52-week low of $12.64 and a 52-week high of $27.26.
TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.96 billion. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. On average, analysts forecast that TechnipFMC plc will post 1.15 earnings per share for the current fiscal year.
TechnipFMC Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.75%. The ex-dividend date is Monday, May 20th. TechnipFMC's dividend payout ratio (DPR) is 42.55%.
TechnipFMC Profile
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Free Report)
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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