Carvalho Filho Eleazar De Sells 9,381 Shares of TechnipFMC plc (NYSE:FTI) Stock

TechnipFMC plc (NYSE:FTI) 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

TechnipFMC Trading Up 1.8 %

NYSE:FTI traded up $0.54 during trading hours on Tuesday, hitting $30.38. The company had a trading volume of 3,626,511 shares, compared to its average volume of 3,756,314. The stock has a 50-day moving average price of $29.69 and a 200 day moving average price of $28.73. The company has a market capitalization of $12.78 billion, a PE ratio of 19.99 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a 52 week low of $22.99 and a 52 week high of $33.45.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Institutional Trading of TechnipFMC

A number of institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its position in TechnipFMC by 31.5% during the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company’s stock valued at $478,620,000 after buying an additional 3,962,315 shares during the period. Norges Bank bought a new stake in TechnipFMC during the fourth quarter worth approximately $96,808,000. Anomaly Capital Management LP grew its holdings in TechnipFMC by 46.5% during the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company’s stock valued at $210,295,000 after purchasing an additional 2,306,342 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC in the third quarter valued at approximately $49,273,000. Finally, AQR Capital Management LLC lifted its holdings in TechnipFMC by 70.6% during the fourth quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company’s stock worth $119,602,000 after buying an additional 1,710,183 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.