TechnipFMC plc (NYSE:FTI) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in TechnipFMC plc (NYSE:FTI) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,426,476 shares of the oil and gas company’s stock after selling 212,768 shares during the period. Franklin Resources Inc. owned 0.81% of TechnipFMC worth $99,118,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of FTI. Captrust Financial Advisors grew its position in shares of TechnipFMC by 11.7% in the 3rd quarter. Captrust Financial Advisors now owns 40,741 shares of the oil and gas company’s stock valued at $1,069,000 after purchasing an additional 4,273 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in TechnipFMC in the third quarter valued at approximately $311,000. Jacobs Levy Equity Management Inc. increased its holdings in TechnipFMC by 68.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock worth $44,454,000 after purchasing an additional 688,622 shares in the last quarter. Morse Asset Management Inc grew its position in shares of TechnipFMC by 2.6% during the 3rd quarter. Morse Asset Management Inc now owns 68,075 shares of the oil and gas company’s stock valued at $1,786,000 after acquiring an additional 1,745 shares during the period. Finally, Millburn Ridgefield Corp bought a new stake in shares of TechnipFMC during the third quarter valued at about $189,000. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FTI. Barclays upped their price target on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. The Goldman Sachs Group started coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and boosted their price target for the company from $29.00 to $40.00 in a report on Friday, December 6th. Finally, Evercore ISI raised their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.31.

Insider Activity

In other news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares in the company, 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 ninety days, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by insiders.

TechnipFMC Trading Up 1.4 %

Shares of TechnipFMC stock opened at $32.63 on Thursday. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The firm has a market cap of $13.72 billion, a PE ratio of 21.47 and a beta of 1.54. 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 business’s fifty day moving average is $29.55 and its two-hundred day moving average is $29.07.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is 10.42%.

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.