Thrivent Financial for Lutherans Sells 283,979 Shares of TechnipFMC plc (NYSE:FTI)

Thrivent Financial for Lutherans lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,718,658 shares of the oil and gas company’s stock after selling 283,979 shares during the period. Thrivent Financial for Lutherans owned 0.64% of TechnipFMC worth $78,678,000 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. Smartleaf Asset Management LLC increased its stake in TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 525 shares during the period. Compagnie Lombard Odier SCmA bought a new position in TechnipFMC during the 4th quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC during the 4th quarter worth $46,000. EverSource Wealth Advisors LLC increased its stake in TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in shares of TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 563 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FTI shares. TD Cowen reiterated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Barclays lifted their price target on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Evercore ISI lifted their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group started coverage on TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $36.31.

TechnipFMC Stock Down 0.6 %

Shares of FTI opened at $28.11 on Wednesday. The company has a market capitalization of $11.82 billion, a PE ratio of 18.49 and a beta of 1.54. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The stock’s 50-day moving average price is $29.92 and its two-hundred day moving average price is $28.63. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.71%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s payout ratio is presently 10.42%.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

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.