Price T Rowe Associates Inc. MD Cuts Stock Position in TechnipFMC plc (NYSE:FTI)

Price T Rowe Associates Inc. MD lowered its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,949,692 shares of the oil and gas company's stock after selling 7,980,943 shares during the period. Price T Rowe Associates Inc. MD owned 11.51% of TechnipFMC worth $1,416,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after buying an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in TechnipFMC during the fourth quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in TechnipFMC during the 4th quarter valued at $46,000. EverSource Wealth Advisors LLC increased its holdings in shares of TechnipFMC by 393.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC raised its position in shares of TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after acquiring an additional 563 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 10,147 shares of the firm's stock in a transaction that occurred 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 directly owns 7,529 shares of the company's stock, valued at $187,472.10. This trade represents a 57.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $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 ninety days, insiders have sold 61,706 shares of company stock worth $1,651,665. Insiders own 1.80% of the company's stock.

TechnipFMC Stock Up 0.3 %

FTI traded up $0.08 on Tuesday, hitting $28.80. 1,282,000 shares of the company were exchanged, compared to its average volume of 3,976,013. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $33.45. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 18.94 and a beta of 1.11. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $27.48 and a two-hundred day moving average price of $28.92.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same period last year, the firm earned $0.22 earnings per share. The firm's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, May 20th. TechnipFMC's dividend payout ratio is currently 10.53%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FTI shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a report on Monday. Evercore ISI increased their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. StockNews.com lowered TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Susquehanna dropped their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.83.

TechnipFMC Company 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.