TechnipFMC plc (NYSE:FTI) Holdings Trimmed by Trexquant Investment LP

Trexquant Investment LP lowered its holdings in TechnipFMC plc (NYSE:FTI) by 17.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 939,079 shares of the oil and gas company’s stock after selling 204,556 shares during the period. Trexquant Investment LP owned about 0.22% of TechnipFMC worth $27,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTI. Norges Bank acquired a new stake in shares of TechnipFMC during the 4th quarter valued at $96,808,000. Vanguard Group Inc. raised its position in shares of TechnipFMC by 4.1% during the fourth 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 during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of TechnipFMC by 50.3% during 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 during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of TechnipFMC by 68.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock valued at $44,454,000 after purchasing an additional 688,622 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in TechnipFMC by 184.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,057,827 shares of the oil and gas company’s stock worth $30,614,000 after purchasing an additional 685,330 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $31.73 on Tuesday. The business’s 50-day simple moving average is $29.54 and its 200-day simple moving average is $28.99. 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 plc has a 52 week low of $22.99 and a 52 week high of $33.45. The firm has a market cap of $13.35 billion, a price-to-earnings ratio of 20.88 and a beta of 1.54.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is 10.42%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FTI. Barclays boosted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and lifted their target price for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Evercore ISI lifted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Two equities 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.31.

Insider Activity

In related 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 transaction of $279,178.56. Following the completion of the sale, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 directly owns 7,529 shares in the company, valued at $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock valued at $1,651,665 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

About TechnipFMC

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.