TechnipFMC plc (NYSE:FTI) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its position in shares of TechnipFMC plc (NYSE:FTI) by 57.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,900 shares of the oil and gas company’s stock after selling 58,326 shares during the quarter. Prudential Financial Inc.’s holdings in TechnipFMC were worth $1,270,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock valued at $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. State Street Corp grew its stake in shares of TechnipFMC by 1.7% in the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after buying an additional 133,775 shares in the last quarter. American Century Companies Inc. grew its stake in shares of TechnipFMC by 1.2% in the fourth quarter. American Century Companies Inc. now owns 3,869,442 shares of the oil and gas company’s stock valued at $111,982,000 after buying an additional 46,224 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of TechnipFMC by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after buying an additional 249,719 shares during the period. Finally, Franklin Resources Inc. lifted its position in TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after acquiring an additional 679,748 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the business’s stock in a transaction 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 transaction, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. The trade was a 8.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO David Light sold 10,147 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. 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 in the last ninety days. 1.80% of the stock is owned by insiders.

TechnipFMC Price Performance

Shares of FTI opened at $25.10 on Monday. TechnipFMC plc has a 12 month low of $22.99 and a 12 month 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 stock has a fifty day moving average price of $29.38 and a 200 day moving average price of $29.13. The company has a market cap of $10.56 billion, a P/E ratio of 16.52 and a beta of 1.11.

TechnipFMC Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.80%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. The Goldman Sachs Group began coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price objective on the stock. Barclays increased their target price on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Finally, Piper Sandler lifted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate 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.