TechnipFMC plc (NYSE:FTI) Stock Holdings Reduced by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC reduced its stake in TechnipFMC plc (NYSE:FTI) by 41.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 36,000 shares of the oil and gas company’s stock after selling 25,000 shares during the period. TechnipFMC makes up 2.3% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Cannon Global Investment Management LLC’s holdings in TechnipFMC were worth $1,042,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FTI. Natixis Advisors LLC boosted its holdings in shares of TechnipFMC by 14.6% in the third quarter. Natixis Advisors LLC now owns 109,330 shares of the oil and gas company’s stock valued at $2,868,000 after acquiring an additional 13,889 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of TechnipFMC by 1.5% during the third quarter. Pathstone Holdings LLC now owns 113,624 shares of the oil and gas company’s stock worth $2,980,000 after purchasing an additional 1,714 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of TechnipFMC by 12.6% during the third quarter. PNC Financial Services Group Inc. now owns 213,539 shares of the oil and gas company’s stock worth $5,601,000 after purchasing an additional 23,893 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of TechnipFMC by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock worth $89,177,000 after purchasing an additional 219,081 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of TechnipFMC by 121.3% during the third quarter. Cerity Partners LLC now owns 908,936 shares of the oil and gas company’s stock worth $23,841,000 after purchasing an additional 498,137 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FTI shares. Barclays increased their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Piper Sandler raised their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. TD Cowen reiterated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Evercore ISI lifted their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Buy” and a consensus price target of $36.31.

Insider Activity

In other news, CAO David Light sold 10,147 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were 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 disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

TechnipFMC Price Performance

Shares of FTI opened at $29.31 on Monday. 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 plc has a 12 month low of $22.99 and a 12 month high of $33.45. The stock has a fifty day moving average price of $29.74 and a 200 day moving average price of $28.70. The company has a market cap of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. TechnipFMC’s dividend payout ratio (DPR) is 10.42%.

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.