Nikko Asset Management Americas Inc. Sells 8,284 Shares of TechnipFMC plc (NYSE:FTI)

Nikko Asset Management Americas Inc. cut its holdings in TechnipFMC plc (NYSE:FTI) by 27.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,654 shares of the oil and gas company’s stock after selling 8,284 shares during the period. Nikko Asset Management Americas Inc.’s holdings in TechnipFMC were worth $627,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in TechnipFMC by 55.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of TechnipFMC in the fourth quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TechnipFMC in the fourth quarter worth $46,000. EverSource Wealth Advisors LLC increased its position in 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 worth $49,000 after acquiring an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in TechnipFMC by 48.2% during the 4th 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 last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FTI. TD Cowen restated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. The Goldman Sachs Group assumed coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target for the company. Piper Sandler lifted their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Royal Bank of Canada started coverage on TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price for the company. Finally, Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $36.31.

TechnipFMC Trading Up 3.8 %

Shares of TechnipFMC stock opened at $28.27 on Tuesday. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The stock has a market capitalization of $11.89 billion, a P/E ratio of 18.60 and a beta of 1.54. The company has a 50-day simple moving average of $30.00 and a 200 day simple moving average of $28.62. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Insider Activity

In other TechnipFMC news, CAO David Light sold 10,147 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This trade represents 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 currently owned by corporate insiders.

About TechnipFMC

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.