Cannell & Spears LLC Has $6.49 Million Stock Position in TechnipFMC plc (NYSE:FTI)

Cannell & Spears LLC cut its holdings in TechnipFMC plc (NYSE:FTI) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 224,378 shares of the oil and gas company’s stock after selling 2,570 shares during the period. Cannell & Spears LLC owned about 0.05% of TechnipFMC worth $6,493,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FTI. Franklin Resources Inc. increased its stake in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of TechnipFMC by 24.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock valued at $634,000 after acquiring an additional 4,314 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in shares of TechnipFMC in the fourth quarter valued at about $519,000. Raymond James Financial Inc. bought a new stake in TechnipFMC during the fourth quarter worth about $9,152,000. Finally, Charles Schwab Investment Management Inc. boosted its position 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 valued at $105,618,000 after purchasing an additional 249,719 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on FTI shares. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and increased their price target for the company from $29.00 to $40.00 in a research note on Friday, December 6th. The Goldman Sachs Group initiated coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price target for the company. 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. Evercore ISI lifted their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Finally, Barclays raised 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. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $36.31.

TechnipFMC Price Performance

TechnipFMC stock opened at $31.18 on Monday. The stock’s fifty day moving average price is $29.56 and its two-hundred day moving average price is $28.94. The firm has a market cap of $13.11 billion, a PE ratio of 20.51 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a one year low of $22.99 and a one year high of $33.45.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Insider Buying and Selling

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 shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction 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 directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 over the last quarter. 1.80% of the stock is 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.