Justin Rounce Sells 42,178 Shares of TechnipFMC plc (NYSE:FTI) Stock

TechnipFMC plc (NYSE:FTI) EVP Justin Rounce sold 42,178 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This represents 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 the SEC website.

TechnipFMC Trading Up 2.8 %

NYSE FTI opened at $27.25 on Friday. The company’s fifty day moving average price is $30.07 and its two-hundred day moving average price is $28.59. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 17.92 and a beta of 1.54. 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.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is currently 10.42%.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its stake 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 buying an additional 679,748 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of TechnipFMC during the fourth quarter worth about $519,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of TechnipFMC by 971.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after acquiring an additional 369,594 shares during the period. ING Groep NV lifted its position in TechnipFMC by 15.3% in the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock valued at $22,697,000 after purchasing an additional 114,600 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in TechnipFMC during the 3rd quarter valued at about $49,273,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FTI has been the subject of several analyst reports. Barclays increased their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Evercore ISI raised 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. TD Cowen reiterated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Piper Sandler boosted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, Royal Bank of Canada initiated coverage on shares of TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price for the company. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and an average target price 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.