TechnipFMC plc (NYSE:FTI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of TechnipFMC plc (NYSE:FTI) by 84.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,818 shares of the oil and gas company’s stock after selling 117,133 shares during the period. Principal Financial Group Inc.’s holdings in TechnipFMC were worth $631,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Scarborough Advisors LLC purchased a new stake in TechnipFMC during the 4th quarter worth about $201,000. V Square Quantitative Management LLC boosted its stake in shares of TechnipFMC by 48.2% during 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 purchasing an additional 563 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of TechnipFMC during the fourth quarter worth about $45,000. Van ECK Associates Corp raised its position in shares of TechnipFMC by 10.4% in the fourth quarter. Van ECK Associates Corp now owns 2,987,606 shares of the oil and gas company’s stock valued at $86,461,000 after buying an additional 281,665 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of TechnipFMC by 521.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 57,592 shares of the oil and gas company’s stock valued at $1,703,000 after buying an additional 48,322 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Down 1.2 %

FTI opened at $26.23 on Friday. TechnipFMC plc has a 1 year low of $21.64 and a 1 year high of $33.45. The firm has a 50 day moving average price of $30.50 and a 200 day moving average price of $28.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The company has a market cap of $11.03 billion, a PE ratio of 17.26 and a beta of 1.54.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is presently 10.42%.

Wall Street Analyst Weigh In

FTI has been the subject of several recent analyst reports. Royal Bank of Canada began coverage on shares of TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price for the company. Citigroup lifted their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. TD Cowen reiterated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. One investment 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 stock. Based on data from MarketBeat, the stock currently has an average 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.