Cannell & Spears LLC Has $6.49 Million Holdings in TechnipFMC plc (NYSE:FTI)

Cannell & Spears LLC decreased its position in shares of TechnipFMC plc (NYSE:FTI) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,378 shares of the oil and gas company’s stock after selling 2,570 shares during the quarter. Cannell & Spears LLC’s holdings in TechnipFMC were worth $6,493,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of 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 worth $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in TechnipFMC during the 4th quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in TechnipFMC during the 4th quarter worth approximately $46,000. EverSource Wealth Advisors LLC raised its stake in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 563 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 0.2 %

FTI opened at $31.18 on Monday. The company has a market cap of $13.11 billion, a P/E ratio of 20.51 and a beta of 1.54. The company has a fifty day moving average price of $29.56 and a two-hundred day moving average price of $28.94. 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 $22.99 and a 1-year high of $33.45.

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 paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 10.42%.

Insiders Place Their Bets

In related news, CAO David Light sold 10,147 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction on Wednesday, March 12th. The shares were 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 of the company’s stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,706 shares of company stock worth $1,651,665. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays increased their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group started coverage on TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, 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 research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $36.31.

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.