Great Lakes Advisors LLC Lowers Stock Position in TechnipFMC plc (NYSE:FTI)

Great Lakes Advisors LLC cut its holdings in TechnipFMC plc (NYSE:FTI) by 95.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,152 shares of the oil and gas company’s stock after selling 269,906 shares during the quarter. Great Lakes Advisors LLC’s holdings in TechnipFMC were worth $381,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of 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 valued at $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in TechnipFMC during the 4th quarter valued at approximately $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in TechnipFMC during the fourth quarter valued at $46,000. EverSource Wealth Advisors LLC boosted its holdings 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 worth $49,000 after acquiring an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of 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 worth $50,000 after acquiring an additional 563 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FTI. Evercore ISI lifted their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Barclays increased their price target on shares of 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 began coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective for the company. Piper Sandler increased their target price on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, TD Cowen restated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $36.31.

Insider Activity

In other news, 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 transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction dated 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 transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. The trade was 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 Performance

FTI opened at $27.25 on Monday. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 17.92 and a beta of 1.54. 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 company’s 50 day moving average is $30.07 and its 200 day moving average is $28.61.

TechnipFMC Dividend Announcement

The firm also recently disclosed 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 0.73%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

TechnipFMC 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.