TechnipFMC plc (NYSE:FTI) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. trimmed its holdings in TechnipFMC plc (NYSE:FTI) by 27.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,654 shares of the oil and gas company’s stock after selling 8,284 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in TechnipFMC were worth $627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in FTI. Smartleaf Asset Management LLC lifted its stake in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of TechnipFMC in the fourth quarter valued at $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TechnipFMC during the 4th quarter valued at $46,000. EverSource Wealth Advisors LLC boosted its stake in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 563 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In other TechnipFMC news, CAO David Light sold 10,147 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly owns 140,207 shares of the company’s stock, valued at $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $28.27 on Tuesday. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The stock’s 50-day moving average is $30.00 and its two-hundred day moving average is $28.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a market cap of $11.89 billion, a P/E ratio of 18.60 and a beta of 1.54.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. TechnipFMC’s dividend payout ratio is currently 10.42%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FTI shares. Piper Sandler increased 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. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price for the company. TD Cowen restated a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Barclays raised their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Finally, Evercore ISI increased their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $36.31.

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.