TechnipFMC plc (NYSE:FTI) Stock Holdings Lessened by Robotti Robert

Robotti Robert lowered its stake in TechnipFMC plc (NYSE:FTI) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 491,422 shares of the oil and gas company’s stock after selling 6,425 shares during the quarter. TechnipFMC accounts for about 2.5% of Robotti Robert’s portfolio, making the stock its 10th biggest holding. Robotti Robert owned 0.12% of TechnipFMC worth $14,222,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp increased its stake in TechnipFMC by 1.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 93,396 shares of the oil and gas company’s stock worth $2,703,000 after buying an additional 997 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in shares of TechnipFMC by 3.6% in the fourth quarter. Zions Bancorporation N.A. now owns 179,027 shares of the oil and gas company’s stock worth $5,181,000 after acquiring an additional 6,286 shares during the last quarter. Sheets Smith Investment Management acquired a new stake in shares of TechnipFMC in the fourth quarter worth approximately $1,436,000. Emerald Advisers LLC increased its position in shares of TechnipFMC by 306.8% during the fourth quarter. Emerald Advisers LLC now owns 51,214 shares of the oil and gas company’s stock worth $1,482,000 after purchasing an additional 38,624 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in 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 purchasing an additional 1,623,864 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction that occurred 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 completion of the sale, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. This trade represents a 8.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the company’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 in the company, valued at $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,706 shares of company stock worth $1,651,665. Company insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FTI shares. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and lifted their target price for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Barclays boosted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Evercore ISI increased their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. TD Cowen restated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Piper Sandler upped their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $36.31.

TechnipFMC Price Performance

FTI stock opened at $30.73 on Thursday. TechnipFMC plc has a 52-week low of $22.99 and a 52-week high of $33.45. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 20.22 and a beta of 1.54. The business has a fifty day moving average of $29.61 and a two-hundred day moving average of $28.79.

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 given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Tuesday, March 18th. 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.