TechnipFMC (NYSE:FTI) Shares Down 14.9% – Here’s What Happened

TechnipFMC plc (NYSE:FTI)’s stock price traded down 14.9% during mid-day trading on Friday . The company traded as low as $24.90 and last traded at $25.08. 4,198,487 shares changed hands during trading, an increase of 8% from the average session volume of 3,874,430 shares. The stock had previously closed at $29.49.

Wall Street Analysts Forecast Growth

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

TechnipFMC Stock Down 14.9 %

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 firm has a market capitalization of $10.56 billion, a P/E ratio of 16.52 and a beta of 1.11. The company has a fifty day simple moving average of $29.38 and a 200 day simple moving average of $29.10.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.80%. TechnipFMC’s dividend payout ratio is presently 10.42%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CAO David Light sold 10,147 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the sale, the director now 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 61,706 shares of company stock worth $1,651,665 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently made changes to their positions in FTI. Franklin Resources Inc. increased its holdings 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 worth $98,838,000 after buying an additional 679,748 shares during the period. Avantax Advisory Services Inc. raised its stake in shares of TechnipFMC by 24.5% during 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 buying an additional 4,314 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in TechnipFMC during the fourth quarter worth about $519,000. Raymond James Financial Inc. acquired a new position in TechnipFMC in the fourth quarter valued at approximately $9,152,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of TechnipFMC by 7.3% during the 4th 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 in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.