Counterpoint Mutual Funds LLC Cuts Stake in TechnipFMC plc (NYSE:FTI)

Counterpoint Mutual Funds LLC lowered its position in TechnipFMC plc (NYSE:FTI) by 45.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,957 shares of the oil and gas company’s stock after selling 21,917 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in TechnipFMC were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in shares of TechnipFMC by 55.2% during 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 period. Compagnie Lombard Odier SCmA purchased a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $46,000. EverSource Wealth Advisors LLC boosted its stake in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in shares of TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 563 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler raised their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada assumed coverage on TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target for the company. Barclays raised their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, The Goldman Sachs Group initiated coverage on TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price target for the company. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $36.31.

Insider Buying and Selling

In related news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value 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. The trade was a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.06% of the stock is owned by corporate insiders.

TechnipFMC Price Performance

FTI opened at $27.25 on Monday. The stock has a 50-day moving average price of $30.07 and a 200-day moving average price of $28.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a market cap of $11.46 billion, a PE ratio of 17.92 and a beta of 1.54. TechnipFMC plc has a 1 year low of $22.99 and a 1 year high of $33.45.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.73%. TechnipFMC’s payout ratio is 10.42%.

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.