TechnipFMC plc $FTI Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. trimmed its position in TechnipFMC plc (NYSE:FTI) by 20.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,232,013 shares of the oil and gas company’s stock after selling 5,830,783 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.06% of TechnipFMC worth $1,035,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after acquiring an additional 3,549,839 shares in the last quarter. State Street Corp raised its holdings in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after purchasing an additional 4,938,498 shares in the last quarter. Invesco Ltd. raised its holdings in TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares in the last quarter. Boston Partners lifted its position in TechnipFMC by 2.0% in the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after purchasing an additional 192,549 shares during the period. Finally, Geode Capital Management LLC lifted its position in TechnipFMC by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock valued at $337,714,000 after purchasing an additional 193,244 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $65.05 on Friday. The business’s 50 day simple moving average is $71.28 and its 200-day simple moving average is $61.88. The firm has a market capitalization of $25.93 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. As a group, equities analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio is 7.63%.

Insider Buying and Selling at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director owned 59,887 shares in the company, valued at $4,151,366.84. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FTI has been the topic of several recent analyst reports. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Piper Sandler raised their price target on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Finally, Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.