TechnipFMC plc (NYSE:FTI) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP cut its position in shares of TechnipFMC plc (NYSE:FTI) by 46.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 111,787 shares of the oil and gas company’s stock after selling 98,304 shares during the quarter. TechnipFMC accounts for 0.5% of Dark Forest Capital Management LP’s portfolio, making the stock its 23rd largest position. Dark Forest Capital Management LP’s holdings in TechnipFMC were worth $3,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in TechnipFMC in the fourth quarter worth about $96,808,000. Anomaly Capital Management LP raised its holdings in shares of TechnipFMC by 46.5% in the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company’s stock worth $210,295,000 after purchasing an additional 2,306,342 shares in the last quarter. Vanguard Group Inc. lifted its stake in TechnipFMC by 4.1% during the fourth 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in TechnipFMC by 15.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company’s stock worth $282,150,000 after buying an additional 1,319,015 shares in the last quarter. Finally, Yaupon Capital Management LP acquired a new position in TechnipFMC in the fourth quarter worth approximately $36,567,000. Institutional investors own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 140,207 shares of the company’s stock, valued at $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the sale, the director now owns 100,951 shares of the company’s stock, valued at approximately $3,004,301.76. This trade represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $25.21 on Wednesday. The business has a fifty day simple moving average of $27.74 and a 200 day simple moving average of $28.91. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $33.45. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 16.58 and a beta of 1.11.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. TechnipFMC’s dividend payout ratio is 10.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Evercore ISI raised their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Piper Sandler upped their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Susquehanna dropped their target price on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Finally, Barclays upped their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $36.15.

TechnipFMC Profile

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.