Magnetar Financial LLC Decreases Stock Holdings in TechnipFMC plc (NYSE:FTI)

Magnetar Financial LLC trimmed its position in shares of TechnipFMC plc (NYSE:FTI) by 90.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,313 shares of the oil and gas company’s stock after selling 120,011 shares during the period. Magnetar Financial LLC’s holdings in TechnipFMC were worth $356,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after acquiring an additional 679,748 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of TechnipFMC by 24.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock valued at $634,000 after acquiring an additional 4,314 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of TechnipFMC during the fourth quarter valued at about $519,000. Westfield Capital Management Co. LP acquired a new position in shares of TechnipFMC during the third quarter valued at about $49,273,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of TechnipFMC by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after acquiring an additional 249,719 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $29.31 on Friday. The stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of 19.28 and a beta of 1.54. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The firm’s 50 day simple moving average is $29.74 and its 200-day simple moving average is $28.68. 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 Dividend Announcement

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 paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.68%. TechnipFMC’s payout ratio is 10.42%.

Analyst Ratings Changes

FTI has been the topic of several recent analyst reports. Evercore ISI upped their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. TD Cowen restated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and increased their price target for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Barclays increased their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Finally, The Goldman Sachs Group began coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $36.31.

Insider Activity

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO David Light sold 10,147 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. The trade was a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

TechnipFMC Company 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.