Wellington Management Group LLP Sells 177,203 Shares of TechnipFMC plc (NYSE:FTI)

Wellington Management Group LLP lowered its holdings in shares of TechnipFMC plc (NYSE:FTI) by 8.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,831,933 shares of the oil and gas company’s stock after selling 177,203 shares during the period. Wellington Management Group LLP owned 0.44% of TechnipFMC worth $53,016,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FTI. Smartleaf Asset Management LLC grew its holdings in TechnipFMC by 55.2% during 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 bought a new position in TechnipFMC during the fourth quarter worth about $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC during the fourth quarter worth about $46,000. EverSource Wealth Advisors LLC grew its holdings in 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 during the period. Finally, V Square Quantitative Management LLC grew 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 during the period. Institutional investors own 96.58% of the company’s stock.

Insider Activity

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO David Light sold 10,147 shares of the business’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 transaction of $252,660.30. Following the transaction, the chief accounting officer now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,706 shares of company stock worth $1,651,665. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of research analyst reports. Sanford C. Bernstein cut TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price target for the company. in a report on Thursday, May 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Barclays raised their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Susquehanna cut their price objective on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.46.

TechnipFMC Stock Up 1.5%

NYSE FTI opened at $31.20 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. The company has a 50 day moving average of $28.49 and a 200-day moving average of $29.43. The company has a market cap of $13.08 billion, a price-to-earnings ratio of 20.52 and a beta of 0.98.

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

TechnipFMC Announces Dividend

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 given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s payout ratio is 10.53%.

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.