TechnipFMC plc (NYSE:FTI) Shares Sold by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 94.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,222 shares of the oil and gas company’s stock after selling 378,332 shares during the quarter. Sierra Summit Advisors LLC’s holdings in TechnipFMC were worth $643,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FTI. Captrust Financial Advisors grew its holdings in TechnipFMC by 11.7% in the 3rd quarter. Captrust Financial Advisors now owns 40,741 shares of the oil and gas company’s stock valued at $1,069,000 after buying an additional 4,273 shares during the period. State Street Corp grew its holdings in TechnipFMC by 1.7% in the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after purchasing an additional 133,775 shares during the period. XTX Topco Ltd increased its position in TechnipFMC by 22.8% during the third quarter. XTX Topco Ltd now owns 34,271 shares of the oil and gas company’s stock worth $899,000 after purchasing an additional 6,355 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in TechnipFMC during the third quarter worth approximately $4,086,000. Finally, M&T Bank Corp grew its stake in shares of TechnipFMC by 18.8% during the 3rd quarter. M&T Bank Corp now owns 20,602 shares of the oil and gas company’s stock valued at $541,000 after buying an additional 3,255 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FTI. Piper Sandler increased their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Evercore ISI increased their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Barclays lifted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group began coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus price target of $36.31.

TechnipFMC Trading Down 14.9 %

Shares of NYSE FTI opened at $25.10 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $29.38 and its two-hundred day moving average price is $29.13. TechnipFMC plc has a 52-week low of $22.99 and a 52-week high of $33.45. The stock has a market capitalization of $10.56 billion, a P/E ratio of 16.52 and a beta of 1.11.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.80%. The ex-dividend date was Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares of the company’s stock, valued at approximately $3,004,301.76. This represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,706 shares of company stock valued at $1,651,665 over the last 90 days. 1.80% of the stock is owned by company insiders.

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.