TechnipFMC (NYSE:FTI) Trading Down 14.9% – Here’s What Happened

Shares of TechnipFMC plc (NYSE:FTI) traded down 14.9% during trading on Friday . The company traded as low as $24.90 and last traded at $25.08. 4,198,487 shares were traded during mid-day trading, an increase of 8% from the average session volume of 3,874,430 shares. The stock had previously closed at $29.49.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research 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. Evercore ISI raised their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Barclays boosted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $36.31.

TechnipFMC Trading Down 14.9 %

The business has a 50-day moving average of $29.38 and a two-hundred day moving average of $29.10. 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 firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 16.52 and a beta of 1.11.

TechnipFMC Announces Dividend

The business 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 payout ratio is presently 10.42%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, CAO David Light sold 10,147 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction 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 transaction, the director now owns 100,951 shares of the company’s stock, valued at $3,004,301.76. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock worth $1,651,665 in the last three months. Insiders own 1.80% of the company’s stock.

Institutional Trading of TechnipFMC

A number of hedge funds and other institutional investors have recently modified their holdings of FTI. T. Rowe Price Investment Management Inc. increased its holdings in TechnipFMC by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company’s stock worth $1,220,288,000 after buying an additional 365,527 shares during the last quarter. Vanguard Group Inc. grew its holdings in 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. Ameriprise Financial Inc. increased its position 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 during the last quarter. Massachusetts Financial Services Co. MA raised its stake in TechnipFMC by 15.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company’s stock valued at $282,150,000 after buying an additional 1,319,015 shares during the period. Finally, State Street Corp increased its holdings in shares of TechnipFMC by 1.7% during the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after acquiring an additional 133,775 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.