Geode Capital Management LLC Lowers Stake in TechnipFMC plc (NYSE:FTI)

Geode Capital Management LLC trimmed its position in shares of TechnipFMC plc (NYSE:FTI) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,785,661 shares of the oil and gas company’s stock after selling 40,878 shares during the period. Geode Capital Management LLC’s holdings in TechnipFMC were worth $196,443,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FTI. Baker Tilly Wealth Management LLC boosted its stake in TechnipFMC by 4.1% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 338 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of TechnipFMC by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock worth $236,000 after buying an additional 357 shares in the last quarter. Sigma Planning Corp boosted its position in shares of TechnipFMC by 3.3% during the fourth quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock worth $334,000 after acquiring an additional 363 shares during the last quarter. GAMMA Investing LLC grew its stake in TechnipFMC by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 414 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in TechnipFMC by 3.8% in the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock valued at $337,000 after acquiring an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on FTI. Piper Sandler increased their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. The Goldman Sachs Group initiated coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price target for the company. Evercore ISI upped 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. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, Barclays upped their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.31.

TechnipFMC Stock Down 14.9 %

Shares of NYSE FTI opened at $25.10 on Monday. TechnipFMC plc has a 1 year low of $22.99 and a 1 year high of $33.45. The firm has a 50-day simple moving average of $29.38 and a two-hundred day simple moving average of $29.13. The company has a market cap of $10.56 billion, a P/E ratio of 16.52 and a beta of 1.11. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.80%. The ex-dividend date was Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, 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 transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. This 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 this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock valued at $1,651,665 in the last quarter. 1.80% of the stock is owned by insiders.

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.