Ethic Inc. Has $227,000 Position in TechnipFMC plc (NYSE:FTI)

Ethic Inc. lowered its holdings in shares of TechnipFMC plc (NYSE:FTI) by 89.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,830 shares of the oil and gas company’s stock after selling 64,046 shares during the period. Ethic Inc.’s holdings in TechnipFMC were worth $227,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FTI. Ameriprise Financial Inc. boosted its stake 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 worth $478,620,000 after buying an additional 3,962,315 shares in the last quarter. Norges Bank acquired a new stake in shares of TechnipFMC in the 4th quarter valued at $96,808,000. Anomaly Capital Management LP boosted its stake in shares of TechnipFMC by 46.5% in 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 in the last quarter. AQR Capital Management LLC boosted its stake in shares of TechnipFMC by 70.6% in the 4th quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company’s stock valued at $119,602,000 after purchasing an additional 1,710,183 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock valued at $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

TechnipFMC stock opened at $31.33 on Friday. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 20.61 and a beta of 0.98. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $33.45. 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 stock has a 50-day simple moving average of $28.11 and a 200 day simple moving average of $29.28.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.64%. TechnipFMC’s dividend payout ratio is currently 10.53%.

Analysts Set New Price Targets

FTI has been the topic of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. Susquehanna reduced their target price on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Piper Sandler boosted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. StockNews.com downgraded shares of TechnipFMC from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Barclays boosted their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.83.

Insiders Place Their Bets

In other news, 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were 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 directly owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This trade represents a 57.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is currently owned by insiders.

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.