Algert Global LLC raised its position in TechnipFMC plc (NYSE:FTI - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 757,856 shares of the oil and gas company's stock after buying an additional 80,156 shares during the quarter. TechnipFMC makes up approximately 0.5% of Algert Global LLC's portfolio, making the stock its 7th biggest position. Algert Global LLC owned approximately 0.18% of TechnipFMC worth $21,932,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of TechnipFMC in the fourth quarter valued at about $96,808,000. Anomaly Capital Management LP increased its position 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 valued at $210,295,000 after acquiring an additional 2,306,342 shares during the period. AQR Capital Management LLC raised its stake in TechnipFMC by 70.6% during the 4th quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company's stock valued at $119,602,000 after acquiring an additional 1,710,183 shares during the last quarter. Vanguard Group Inc. lifted its position 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. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of 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 valued at $282,150,000 after purchasing an additional 1,319,015 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares of the company's stock, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the transaction, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock worth $1,651,665 in the last ninety days. Insiders own 1.80% of the company's stock.
Analyst Ratings Changes
Several research firms have recently commented on FTI. Evercore ISI upped their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. Barclays lifted their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Susquehanna cut their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, Piper Sandler lifted their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.83.
Check Out Our Latest Research Report on TechnipFMC
TechnipFMC Stock Performance
Shares of FTI stock opened at $29.69 on Friday. The stock has a fifty day moving average price of $27.48 and a 200 day moving average price of $28.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock has a market cap of $12.49 billion, a PE 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.
TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. TechnipFMC's quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.
TechnipFMC Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. TechnipFMC's dividend payout ratio (DPR) is 10.53%.
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.
Further Reading
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