Maryland State Retirement & Pension System Sells 1,912 Shares of TechnipFMC plc (NYSE:FTI)

Maryland State Retirement & Pension System cut its holdings in TechnipFMC plc (NYSE:FTI) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,601 shares of the oil and gas company’s stock after selling 1,912 shares during the period. Maryland State Retirement & Pension System’s holdings in TechnipFMC were worth $654,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FTI. Westfield Capital Management Co. LP bought a new position in shares of TechnipFMC in the third quarter worth $49,273,000. Vaughan Nelson Investment Management L.P. boosted its stake in TechnipFMC by 50.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock worth $66,842,000 after purchasing an additional 773,000 shares during the period. Jacobs Levy Equity Management Inc. grew 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 valued at $44,454,000 after buying an additional 688,622 shares in the last quarter. Franklin Resources Inc. increased its position in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of TechnipFMC by 121.3% in the third quarter. Cerity Partners LLC now owns 908,936 shares of the oil and gas company’s stock worth $23,841,000 after buying an additional 498,137 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other TechnipFMC news, CAO David Light sold 10,147 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. This trade represents a 57.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the transaction, the executive vice president now directly 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 owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on FTI shares. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. The Goldman Sachs Group began coverage on TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. Piper Sandler raised their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Evercore ISI boosted their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC currently has a consensus rating of “Buy” and an average price target of $36.31.

TechnipFMC Stock Performance

TechnipFMC stock opened at $29.86 on Tuesday. The company has a market capitalization of $12.56 billion, a PE ratio of 19.64 and a beta of 1.54. The firm has a fifty day simple moving average of $29.69 and a two-hundred day simple moving average of $28.73. 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 plc has a twelve month low of $22.99 and a twelve month high of $33.45.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 yield of 0.67%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is presently 10.42%.

TechnipFMC 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.