TechnipFMC plc (NYSE:FTI) EVP Sells $1,119,825.90 in Stock

TechnipFMC plc (NYSE:FTI) 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 transaction of $1,119,825.90. Following the transaction, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

TechnipFMC Stock Performance

NYSE:FTI opened at $27.25 on Friday. The stock has a market capitalization of $11.46 billion, a P/E ratio of 17.92 and a beta of 1.54. TechnipFMC plc has a 1 year low of $22.99 and a 1 year high of $33.45. The firm has a 50 day moving average of $30.07 and a 200-day moving average of $28.59. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC Announces Dividend

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 paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.73%. TechnipFMC’s dividend payout ratio (DPR) is currently 10.42%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTI. Franklin Resources Inc. increased its position in TechnipFMC by 23.0% in 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 purchasing an additional 679,748 shares during the period. Park Avenue Securities LLC bought a new position in shares of TechnipFMC in the 4th quarter valued at about $519,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after buying an additional 369,594 shares during the period. ING Groep NV raised its stake in shares of TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after buying an additional 114,600 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in TechnipFMC in the third quarter valued at approximately $49,273,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the subject of several recent research reports. Barclays increased their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Royal Bank of Canada began coverage on TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. The Goldman Sachs Group assumed coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and upped their target price for the company from $29.00 to $40.00 in a report on Friday, December 6th. Finally, Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price 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.