TechnipFMC (NYSE:FTI) Cut to Hold at StockNews.com

StockNews.com cut shares of TechnipFMC (NYSE:FTI) from a buy rating to a hold rating in a report published on Thursday morning.

FTI has been the topic of a number of other research reports. Barclays raised their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. 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 research note on Friday, December 6th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 price objective on the stock. TD Cowen restated a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Piper Sandler increased their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $36.31.

TechnipFMC Stock Down 0.2 %

Shares of FTI stock opened at $31.18 on Thursday. The firm’s fifty day moving average price is $29.56 and its two-hundred day moving average price is $28.90. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC has a 1 year low of $22.99 and a 1 year high of $33.45. The firm has a market capitalization of $13.11 billion, a P/E ratio of 20.51 and a beta of 1.54.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is currently 10.42%.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction on Monday, March 24th. The stock was 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 of the company’s stock, valued at $3,004,301.76. The trade was a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,706 shares of company stock worth $1,651,665. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its holdings in TechnipFMC by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company’s stock worth $1,220,288,000 after purchasing an additional 365,527 shares during the period. Vanguard Group Inc. boosted its position in TechnipFMC by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in TechnipFMC by 31.5% in the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company’s stock worth $478,620,000 after buying an additional 3,962,315 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of TechnipFMC by 15.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company’s stock valued at $282,150,000 after buying an additional 1,319,015 shares during the last quarter. Finally, State Street Corp boosted its stake in TechnipFMC by 1.7% during the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after buying an additional 133,775 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

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.