Primecap Management Co. CA Decreases Position in TechnipFMC plc (NYSE:FTI)

Primecap Management Co. CA decreased its stake in TechnipFMC plc (NYSE:FTI) by 3.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,829,100 shares of the oil and gas company’s stock after selling 60,000 shares during the quarter. Primecap Management Co. CA’s holdings in TechnipFMC were worth $52,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Baker Tilly Wealth Management LLC boosted its position in shares of TechnipFMC by 4.1% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock worth $248,000 after buying an additional 338 shares during the period. Yousif Capital Management LLC boosted its position in shares of TechnipFMC by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock worth $236,000 after buying an additional 357 shares during the period. Sigma Planning Corp boosted its position in shares of TechnipFMC by 3.3% in the fourth quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock worth $334,000 after buying an additional 363 shares during the period. GAMMA Investing LLC boosted its position in shares of TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after buying an additional 414 shares during the period. Finally, Ballentine Partners LLC boosted its position in shares of TechnipFMC by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after buying an additional 423 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Transactions at TechnipFMC

In related news, CAO David Light sold 10,147 shares of the firm’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 directly owns 7,529 shares in the company, valued at $187,472.10. This trade represents a 57.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the executive vice president now owns 140,207 shares in the company, valued at approximately $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. Insiders own 1.06% of the company’s stock.

TechnipFMC Stock Down 0.6 %

Shares of TechnipFMC stock opened at $28.11 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $29.92 and its 200-day simple moving average is $28.63. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 18.49 and a beta of 1.54. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45.

TechnipFMC Dividend Announcement

The business 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 dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Analyst Ratings Changes

A number of research analysts recently commented on FTI shares. TD Cowen reissued a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Barclays increased their price target on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. The Goldman Sachs Group initiated coverage on TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Piper Sandler upped their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TechnipFMC currently has an average rating of “Buy” and a consensus price target of $36.31.

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.