Headlands Technologies LLC Sells 37,263 Shares of TechnipFMC plc (NYSE:FTI)

Headlands Technologies LLC decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 51.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 34,818 shares of the oil and gas company’s stock after selling 37,263 shares during the period. Headlands Technologies LLC’s holdings in TechnipFMC were worth $1,008,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in TechnipFMC by 23.0% in 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 purchasing an additional 679,748 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of TechnipFMC by 24.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock valued at $634,000 after acquiring an additional 4,314 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $519,000. Raymond James Financial Inc. acquired a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $9,152,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in TechnipFMC by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock worth $105,618,000 after acquiring an additional 249,719 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction that occurred 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 approximately $3,004,301.76. This represents a 8.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO David Light sold 10,147 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock worth $1,651,665 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FTI. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and increased their target price for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Piper Sandler raised their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. The Goldman Sachs Group began coverage on TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 target price for the company. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, Evercore ISI boosted their price objective on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and an average price target of $36.31.

TechnipFMC Stock Performance

Shares of FTI stock opened at $32.63 on Thursday. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The company’s fifty day simple moving average is $29.55 and its 200-day simple moving average is $29.07. 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.

TechnipFMC Dividend Announcement

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