Trexquant Investment LP Reduces Stake in TechnipFMC plc

Trexquant Investment LP has reduced its holdings in TechnipFMC plc (NYSE:FTI) by 17.9% during the fourth quarter, as reported in its latest 13F filing with the Securities and Exchange Commission (SEC). After selling 204,556 shares in this period, the fund now holds a total of 939,079 shares of the oil and gas company. This represents approximately 0.22% of TechnipFMC, valuing the investment at around $27,177,000 at the close of the recent reporting period.

In addition to Trexquant Investment LP, several other hedge funds and institutional investors have made significant adjustments to their positions in TechnipFMC. For instance, Norges Bank acquired a new stake worth $96,808,000 in the company during the fourth quarter. Vanguard Group Inc. increased its holdings by 4.1% during the same period, now owning 40,793,925 shares valued at $1,180,576,000 after an additional purchase of 1,623,864 shares. Meanwhile, Vaughan Nelson Investment Management L.P. raised their position by 50.3%, bringing their total to 2,309,710 shares valued at $66,842,000, following the acquisition of 773,000 additional shares last quarter.

Jacobs Levy Equity Management Inc. enhanced their stake by 68.4% in the third quarter, now holding 1,694,759 shares valued at $44,454,000 after adding 688,622 shares to their portfolio. Lastly, Arrowstreet Capital Limited Partnership increased their stake in TechnipFMC by an impressive 184.0% in the fourth quarter, now owning 1,057,827 shares valued at $30,614,000 after purchasing an extra 685,330 shares. Overall, institutional investors currently own 96.58% of TechnipFMC's stock.

TechnipFMC Stock Performance

The shares of TechnipFMC (NYSE:FTI) opened at $31.73 on a recent Tuesday. The stock's 50-day and 200-day simple moving averages stand at $29.54 and $28.99, respectively. TechnipFMC has a debt-to-equity ratio of 0.22, with a quick ratio of 0.89 and a current ratio of 1.14. Over the past year, the company's stock has experienced a low of $22.99 and a high of $33.45. TechnipFMC has a market capitalization of $13.35 billion, a price-to-earnings ratio of 20.88, and a beta of 1.54.

TechnipFMC Dividend Announcement

Recently, TechnipFMC announced a quarterly dividend of $0.05, which is set to be paid on April 2nd. Shareholders of record as of March 18th will receive this dividend, translating to an annualized dividend of $0.20 and a yield of 0.63%. The ex-dividend date is also March 18th, and the company's current dividend payout ratio is 10.42%.

Wall Street Analyst Opinions

Various research firms have weighed in on TechnipFMC, providing insights into the company's stock performance. Barclays recently raised their price target from $42.00 to $43.00, maintaining an "overweight" rating. Jefferies Financial Group upgraded TechnipFMC from a "hold" to a "buy" rating, lifting their target price from $29.00 to $40.00, while Piper Sandler also increased their price target from $39.00 to $40.00 with an "overweight" rating. On the other hand, StockNews.com lowered their rating from "buy" to "hold." Additionally, Evercore ISI moved their target price from $37.00 to $39.00, categorizing the stock as "outperform." Currently, two analysts have issued a hold rating, twelve have rated it as a buy, and one analyst issued a strong buy rating, giving TechnipFMC a consensus rating of "Moderate Buy" and an average price target of $36.31.

Insider Activity

In other news, director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC on March 24th at an average price of $29.76, totaling a transaction worth $279,178.56. After this sale, the director maintains ownership of 100,951 shares, valued at around $3,004,301.76, which reflects an 8.50% decrease in their position. This transaction was disclosed in filings with the SEC. Additionally, CAO David Light sold 10,147 shares at an average price of $24.90 on March 11th, amounting to $252,660.30. Following this transaction, he now holds 7,529 shares valued at $187,472.10, reflecting a 57.41% decrease. In total, insiders have sold 61,706 shares of TechnipFMC valued at $1,651,665 over the last three months, with company insiders currently holding 1.80% of the stock.

About TechnipFMC

TechnipFMC plc specializes in energy projects, technologies, systems, and services worldwide, with operations in Europe, Central Asia, North America, Latin America, Asia Pacific, Africa, and the Middle East. The company operates through two primary segments: Subsea and Surface Technologies. The Subsea segment focuses on the design, engineering, procurement, manufacturing, fabrication, installation, and maintenance services for subsea systems and infrastructure used in oil and gas production and transportation.

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