Corient Private Wealth LLC Sells 8,855 Shares of TechnipFMC plc (NYSE:FTI)

Corient Private Wealth LLC reduced its position in shares of TechnipFMC plc (NYSE:FTI) by 48.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,312 shares of the oil and gas company’s stock after selling 8,855 shares during the quarter. Corient Private Wealth LLC’s holdings in TechnipFMC were worth $270,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in shares of TechnipFMC by 1,630.7% in the third quarter. Bank of Montreal Can now owns 287,454 shares of the oil and gas company’s stock valued at $7,347,000 after buying an additional 270,845 shares during the last quarter. Captrust Financial Advisors lifted its holdings in TechnipFMC by 11.7% during the 3rd quarter. Captrust Financial Advisors now owns 40,741 shares of the oil and gas company’s stock valued at $1,069,000 after purchasing an additional 4,273 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in TechnipFMC during the third quarter worth $311,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of TechnipFMC by 68.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock valued at $44,454,000 after purchasing an additional 688,622 shares during the last quarter. Finally, Morse Asset Management Inc raised its position in shares of TechnipFMC by 2.6% in the third quarter. Morse Asset Management Inc now owns 68,075 shares of the oil and gas company’s stock valued at $1,786,000 after purchasing an additional 1,745 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the sale, the director now directly owns 100,951 shares in the company, valued at approximately $3,004,301.76. This trade represents a 8.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David Light sold 10,147 shares of TechnipFMC 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 sale, 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 61,706 shares of company stock valued at $1,651,665 over the last three months. 1.80% of the stock is owned by insiders.

TechnipFMC Trading Up 1.8 %

Shares of TechnipFMC stock opened at $31.73 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 20.88 and a beta of 1.54. The firm’s 50-day moving average price is $29.54 and its two-hundred day moving average price is $28.99.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. TechnipFMC’s dividend payout ratio is 10.42%.

Analyst Upgrades and Downgrades

FTI has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. Piper Sandler boosted their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and increased their target price for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Evercore ISI increased 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. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate 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.