TechnipFMC plc (NYSE:FTI) Holdings Reduced by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in TechnipFMC plc (NYSE:FTI) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,831,933 shares of the oil and gas company’s stock after selling 177,203 shares during the quarter. Wellington Management Group LLP owned about 0.43% of TechnipFMC worth $53,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its holdings 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 worth $43,000 after purchasing an additional 525 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of TechnipFMC in the 4th quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of TechnipFMC in the fourth quarter valued at approximately $46,000. EverSource Wealth Advisors LLC increased its stake 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 valued at $49,000 after acquiring an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in TechnipFMC by 48.2% during 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 purchasing an additional 563 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

NYSE FTI opened at $25.10 on Friday. 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 has a market capitalization of $10.56 billion, a PE ratio of 16.52 and a beta of 1.11. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The company has a 50 day moving average price of $29.38 and a two-hundred day moving average price of $29.10.

TechnipFMC Announces Dividend

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

Insiders Place Their Bets

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the sale, the director now owns 100,951 shares of the company’s stock, valued at $3,004,301.76. This represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock valued at $1,651,665 over the last three months. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. 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 target for the company. Evercore ISI lifted their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Finally, Piper Sandler increased their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $36.31.

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.