State of Tennessee Department of Treasury Sells 34,825 Shares of TechnipFMC plc (NYSE:FTI)

State of Tennessee Department of Treasury lowered its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 33.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,483 shares of the oil and gas company's stock after selling 34,825 shares during the period. State of Tennessee Department of Treasury's holdings in TechnipFMC were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FTI. Vanguard Group Inc. increased its stake in TechnipFMC by 4.1% during 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 acquiring an additional 1,623,864 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of TechnipFMC by 15.6% during the fourth 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 during the period. Dimensional Fund Advisors LP increased its stake in shares of TechnipFMC by 2.9% in 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 buying an additional 138,556 shares during the period. American Century Companies Inc. lifted its position in shares of TechnipFMC by 1.2% in the 4th quarter. American Century Companies Inc. now owns 3,869,442 shares of the oil and gas company's stock worth $111,982,000 after purchasing an additional 46,224 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of TechnipFMC by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock valued at $105,618,000 after purchasing an additional 249,719 shares during the period. Institutional investors own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's 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 sale, the director now owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,706 shares of company stock valued at $1,651,665 over the last three months. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FTI shares. Evercore ISI lifted their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Susquehanna reduced their target price on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Monday. Finally, Barclays raised their price target on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.83.

TechnipFMC Stock Performance

FTI stock traded up $0.67 on Friday, hitting $29.69. The company's stock had a trading volume of 2,780,021 shares, compared to its average volume of 3,979,852. 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 stock has a market cap of $12.49 billion, a price-to-earnings ratio of 19.53 and a beta of 1.11. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $33.45. The firm has a 50 day moving average of $27.44 and a two-hundred day moving average of $28.93.

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

TechnipFMC Dividend Announcement

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

About TechnipFMC

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.