Legal & General Group Plc Lowers Stake in TechnipFMC plc (NYSE:FTI)

Legal & General Group Plc cut its stake in TechnipFMC plc (NYSE:FTI) by 15.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 624,016 shares of the oil and gas company’s stock after selling 110,760 shares during the quarter. Legal & General Group Plc’s holdings in TechnipFMC were worth $18,059,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its stake in TechnipFMC by 55.2% in 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 purchased a new stake in TechnipFMC during the fourth quarter valued at approximately $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in TechnipFMC in the fourth quarter valued at approximately $46,000. EverSource Wealth Advisors LLC increased its position in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 563 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO David Light sold 10,147 shares of TechnipFMC 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 sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % 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 stock in a transaction that occurred 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 transaction, the director now directly owns 100,951 shares of the company’s stock, valued at $3,004,301.76. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock worth $1,651,665 in the last ninety days. Company insiders own 1.80% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $25.34 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 16.67 and a beta of 1.11. The firm’s 50 day simple moving average is $28.43 and its 200-day simple moving average is $29.00. TechnipFMC plc has a 12 month low of $22.12 and a 12 month high of $33.45.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Tuesday, March 18th. TechnipFMC’s payout ratio is currently 10.42%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FTI shares. Evercore ISI boosted 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. Barclays upped their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Piper Sandler boosted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Susquehanna decreased their price target on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a report on Monday. Finally, StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $36.15.

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.