Balyasny Asset Management L.P. Decreases Stock Position in TechnipFMC plc (NYSE:FTI)

Balyasny Asset Management L.P. lessened its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 36.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,460,583 shares of the oil and gas company's stock after selling 1,397,317 shares during the quarter. Balyasny Asset Management L.P. owned 0.58% of TechnipFMC worth $71,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TechnipFMC in the 4th quarter worth approximately $46,000. Smartleaf Asset Management LLC grew its holdings 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 valued at $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of TechnipFMC in the fourth quarter valued at $45,000. EverSource Wealth Advisors LLC raised its stake in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after buying an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted 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 buying an additional 563 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FTI. Evercore ISI lifted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. Piper Sandler raised their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. StockNews.com downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Barclays lifted their price objective on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.83.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the transaction, 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 legal filing with the SEC, which is available at this link. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction on Wednesday, March 12th. The shares were 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 owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock valued at $1,651,665 in the last three months. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Trading Up 0.7 %

Shares of FTI traded up $0.20 during mid-day trading on Friday, hitting $29.90. The company had a trading volume of 3,203,823 shares, compared to its average volume of 3,999,851. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. The business's 50-day simple moving average is $27.60 and its 200-day simple moving average is $29.10. The stock has a market cap of $12.53 billion, a PE ratio of 19.67 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. Sell-side analysts forecast 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. Stockholders of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date of this dividend 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 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.