TechnipFMC plc (NYSE:FTI) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 9.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 338,438 shares of the oil and gas company’s stock after selling 36,146 shares during the period. Sei Investments Co.’s holdings in TechnipFMC were worth $9,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its position in TechnipFMC by 1.7% in the third 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 in the last quarter. American Century Companies Inc. lifted its stake in shares of TechnipFMC by 1.2% in the fourth quarter. American Century Companies Inc. now owns 3,869,442 shares of the oil and gas company’s stock valued at $111,982,000 after purchasing an additional 46,224 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in TechnipFMC by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock worth $105,618,000 after buying an additional 249,719 shares in the last quarter. Franklin Resources Inc. boosted its holdings 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, Van ECK Associates Corp increased its holdings in TechnipFMC by 10.4% in the fourth quarter. Van ECK Associates Corp now owns 2,987,606 shares of the oil and gas company’s stock valued at $86,461,000 after buying an additional 281,665 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Light sold 10,147 shares of the company’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 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 $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock worth $1,651,665 in the last 90 days. 1.80% of the stock is owned by company insiders.

TechnipFMC Trading Down 0.2 %

Shares of TechnipFMC stock opened at $31.18 on Monday. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The business’s fifty day moving average is $29.56 and its two-hundred day moving average is $28.94. 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 cap of $13.11 billion, a PE ratio of 20.51 and a beta of 1.54.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Evercore ISI boosted their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Piper Sandler upped their target price on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. The Goldman Sachs Group started coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, Barclays lifted their target price 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 analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.31.

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.