Millennium Management LLC Sells 2,169,178 Shares of TechnipFMC plc (NYSE:FTI)

Millennium Management LLC decreased its position in TechnipFMC plc (NYSE:FTI - Free Report) by 53.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,925,411 shares of the oil and gas company's stock after selling 2,169,178 shares during the period. Millennium Management LLC owned about 0.45% of TechnipFMC worth $55,721,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avantax Advisory Services Inc. grew its holdings in TechnipFMC by 24.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock worth $634,000 after acquiring an additional 4,314 shares during the period. Park Avenue Securities LLC acquired a new position in shares of TechnipFMC during the 4th quarter worth $519,000. Raymond James Financial Inc. acquired a new stake in shares of TechnipFMC in the fourth quarter valued at about $9,152,000. Charles Schwab Investment Management Inc. lifted its stake in shares of TechnipFMC by 7.3% in the fourth 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. Finally, Jones Financial Companies Lllp lifted its stake in shares of TechnipFMC by 1,024.4% in the fourth quarter. Jones Financial Companies Lllp now owns 14,347 shares of the oil and gas company's stock valued at $415,000 after purchasing an additional 13,071 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of NYSE FTI traded down $0.52 during midday trading on Tuesday, hitting $30.67. The company's stock had a trading volume of 2,638,631 shares, compared to its average volume of 4,011,451. The firm has a market cap of $12.86 billion, a P/E ratio of 20.18 and a beta of 0.98. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. The firm's fifty day moving average price is $28.21 and its 200-day moving average price is $29.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

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

TechnipFMC Announces Dividend

The firm also recently announced 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 0.65%. TechnipFMC's dividend payout ratio is 10.53%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com cut shares of TechnipFMC from a "hold" rating to a "sell" rating in a research note on Friday. Royal Bank of Canada restated an "outperform" rating and set a $37.00 target price on shares of TechnipFMC in a research report on Monday, April 28th. Barclays lifted their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Susquehanna cut their target price on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler boosted their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.83.

Insider Activity at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. This trade represents a 23.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $279,178.56. Following the transaction, the director now directly owns 100,951 shares of the company's stock, valued at $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. In the last quarter, insiders sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is owned by corporate insiders.

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.