Counterpoint Mutual Funds LLC Sells 21,917 Shares of TechnipFMC plc (NYSE:FTI)

Counterpoint Mutual Funds LLC cut its stake in shares of TechnipFMC plc (NYSE:FTI) by 45.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,957 shares of the oil and gas company’s stock after selling 21,917 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in TechnipFMC were worth $751,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FTI. Assetmark Inc. bought a new position in shares of TechnipFMC during the 3rd quarter valued at approximately $265,000. Sigma Planning Corp grew its stake in shares of TechnipFMC by 32.6% during the 3rd quarter. Sigma Planning Corp now owns 11,164 shares of the oil and gas company’s stock valued at $293,000 after acquiring an additional 2,743 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after acquiring an additional 369,594 shares during the period. KBC Group NV grew its stake in shares of TechnipFMC by 15.7% during the 3rd quarter. KBC Group NV now owns 12,485 shares of the oil and gas company’s stock valued at $327,000 after acquiring an additional 1,692 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of TechnipFMC by 14.6% during the 3rd quarter. Natixis Advisors LLC now owns 109,330 shares of the oil and gas company’s stock valued at $2,868,000 after acquiring an additional 13,889 shares during the period. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $27.25 on Monday. The stock’s fifty day moving average is $30.07 and its two-hundred day moving average is $28.61. The company has a market capitalization of $11.46 billion, a PE ratio of 17.92 and a beta of 1.54. 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 52 week low of $22.99 and a 52 week high of $33.45.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada assumed coverage on TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target on the stock. Barclays boosted their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Evercore ISI boosted their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. TD Cowen reaffirmed a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, The Goldman Sachs Group assumed coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price objective on the stock. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $36.31.

Insider Transactions at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now owns 7,529 shares of the company’s stock, 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. Corporate 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.