TechnipFMC plc (NYSE:FTI) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its position in TechnipFMC plc (NYSE:FTI) by 20.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,591,601 shares of the oil and gas company’s stock after selling 411,925 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in TechnipFMC were worth $46,061,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Baker Tilly Wealth Management LLC raised its stake in TechnipFMC by 4.1% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock valued at $248,000 after buying an additional 338 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of TechnipFMC by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 357 shares in the last quarter. Sigma Planning Corp lifted its stake in TechnipFMC by 3.3% during the fourth quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock worth $334,000 after purchasing an additional 363 shares during the last quarter. GAMMA Investing LLC boosted its holdings in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 414 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in TechnipFMC by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 423 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on FTI. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Monday, April 28th. Susquehanna decreased their price objective on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Barclays raised their price objective on TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Finally, Piper Sandler raised their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.83.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $29.68 on Friday. The stock has a fifty day moving average price of $27.54 and a 200 day moving average price of $29.04. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. 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 company has a market cap of $12.44 billion, a PE ratio of 19.53 and a beta of 0.98.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $0.22 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. TechnipFMC’s dividend payout ratio is currently 10.53%.

Insider Activity at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the sale, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock worth $1,651,665 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

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.