JPMorgan Chase & Co. Has $487.54 Million Stake in TechnipFMC plc (NYSE:FTI)

JPMorgan Chase & Co. lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 22.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,846,619 shares of the oil and gas company’s stock after selling 5,009,766 shares during the quarter. JPMorgan Chase & Co.’s holdings in TechnipFMC were worth $487,541,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FTI. Vanguard Group Inc. grew its holdings in shares of TechnipFMC by 4.1% during the 4th 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. Vaughan Nelson Investment Management L.P. raised its stake in TechnipFMC by 50.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock valued at $66,842,000 after purchasing an additional 773,000 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in TechnipFMC by 68.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock worth $44,454,000 after purchasing an additional 688,622 shares during the period. Franklin Resources Inc. grew its stake in 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 worth $98,838,000 after buying an additional 679,748 shares in the last quarter. Finally, Ninety One UK Ltd increased its holdings in TechnipFMC by 69.7% in the 4th quarter. Ninety One UK Ltd now owns 813,016 shares of the oil and gas company’s stock valued at $23,529,000 after buying an additional 333,897 shares during the period. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction 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 owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO David Light sold 10,147 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is currently owned by company insiders.

TechnipFMC Trading Down 0.2 %

Shares of NYSE FTI opened at $31.18 on Friday. The firm has a 50 day moving average price of $29.56 and a two-hundred day moving average price of $28.90. The stock has a market cap of $13.11 billion, a P/E ratio of 20.51 and a beta of 1.54. TechnipFMC plc has a 52-week low of $22.99 and a 52-week high of $33.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

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 given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is currently 10.42%.

Analyst Upgrades and Downgrades

FTI has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price target on the stock. Piper Sandler upped their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays boosted their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Two research 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 company. According to data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $36.31.

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.