Harvest Investment Services LLC Cuts Stock Position in TechnipFMC plc (NYSE:FTI)

Harvest Investment Services LLC reduced its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 79.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,843 shares of the oil and gas company's stock after selling 38,232 shares during the quarter. Harvest Investment Services LLC's holdings in TechnipFMC were worth $285,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of TechnipFMC during the fourth quarter valued at $96,808,000. Anomaly Capital Management LP raised its position in TechnipFMC by 46.5% during the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after buying an additional 2,306,342 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock valued at $1,180,576,000 after acquiring an additional 1,623,864 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of TechnipFMC by 15.6% in 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 acquiring an additional 1,319,015 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in TechnipFMC during the fourth quarter valued at $36,567,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of recent research reports. Susquehanna reduced their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Barclays boosted their price target on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday. Evercore ISI raised 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 cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Piper Sandler lifted their price objective on shares of 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 issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.83.

Insider Activity

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the firm'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 completion of the sale, the executive vice president now owns 140,207 shares of the company's stock, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction 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 transaction, the director now owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. This represents a 8.50 % decrease in their ownership of the stock. 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 in the last 90 days. Company insiders own 1.80% of the company's stock.

TechnipFMC Price Performance

FTI stock traded up $0.05 during trading on Monday, hitting $28.38. The stock had a trading volume of 1,693,585 shares, compared to its average volume of 3,971,452. The stock has a market capitalization of $11.94 billion, a P/E ratio of 18.68 and a beta of 1.11. The company's 50-day moving average price is $27.52 and its two-hundred day moving average price is $28.91. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $33.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

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 for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion during 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%. As a group, research analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company 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. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. TechnipFMC's payout ratio is 10.42%.

TechnipFMC 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.