TechnipFMC plc (NYSE:FTI) CAO Sells $252,660.30 in Stock

TechnipFMC plc (NYSE:FTI) CAO David Light sold 10,147 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

TechnipFMC Price Performance

Shares of NYSE:FTI traded up $0.06 during trading on Thursday, reaching $26.44. The stock had a trading volume of 6,164,078 shares, compared to its average volume of 3,772,677. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The business has a fifty day moving average price of $30.21 and a 200-day moving average price of $28.60. The stock has a market cap of $11.12 billion, a PE ratio of 17.40 and a beta of 1.54. TechnipFMC plc has a 1-year low of $22.99 and a 1-year high of $33.45.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 10.42%.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTI. Smartleaf Asset Management LLC boosted its stake in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after buying an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in TechnipFMC in the fourth quarter valued at $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in TechnipFMC in the fourth quarter valued at $46,000. EverSource Wealth Advisors LLC raised its position in TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC raised its position in TechnipFMC by 48.2% in the fourth 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 period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FTI. TD Cowen reissued a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Piper Sandler raised their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Barclays raised their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Citigroup lifted their price target on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group assumed coverage on TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective for the company. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.