Thrivent Financial for Lutherans Has $78.68 Million Stock Holdings in TechnipFMC plc (NYSE:FTI)

Thrivent Financial for Lutherans trimmed its position in TechnipFMC plc (NYSE:FTI) by 9.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,718,658 shares of the oil and gas company’s stock after selling 283,979 shares during the period. Thrivent Financial for Lutherans’ holdings in TechnipFMC were worth $78,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FTI. Pacer Advisors Inc. bought a new stake in TechnipFMC in the 3rd quarter valued at about $185,643,000. Westfield Capital Management Co. LP bought a new stake in TechnipFMC in the 3rd quarter valued at about $49,273,000. Jennison Associates LLC increased its position in TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after buying an additional 1,150,049 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in TechnipFMC by 50.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock valued at $66,842,000 after buying an additional 773,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in TechnipFMC by 68.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock valued at $44,454,000 after buying an additional 688,622 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate insiders.

TechnipFMC Stock Performance

FTI stock opened at $28.11 on Wednesday. The firm has a market cap of $11.82 billion, a PE ratio of 18.49 and a beta of 1.54. 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 business has a 50 day moving average of $29.92 and a 200-day moving average of $28.63. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is presently 10.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FTI. Piper Sandler boosted their target price on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. The Goldman Sachs Group assumed coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price objective for the company. Evercore ISI boosted their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Finally, Barclays boosted their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.31.

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.