Trexquant Investment LP Reduces Stake in TechnipFMC plc

Trexquant Investment LP has decreased its holdings in TechnipFMC plc (NYSE: FTI) by 17.9% during the fourth quarter, as indicated by its latest 13F filing with the Securities and Exchange Commission (SEC). Following this reduction, the fund now owns 939,079 shares of the oil and gas company, having sold 204,556 shares during this period. At the end of the last reporting cycle, Trexquant's stake in TechnipFMC represented approximately 0.22% of the company, valued at around $27.18 million.

Additionally, several other hedge funds and institutional investors have adjusted their positions in TechnipFMC. Notably, Norges Bank has acquired a new stake in shares of TechnipFMC during the fourth quarter, valued at approximately $96.81 million. Vanguard Group Inc. raised its position in the company by 4.1%, and now holds 40,793,925 shares worth about $1.18 billion after purchasing an extra 1,623,864 shares in the same quarter. Vaughan Nelson Investment Management L.P. increased its stake by 50.3%, now owning 2,309,710 shares valued at approximately $66.84 million after buying an additional 773,000 shares in the last quarter. Furthermore, Jacobs Levy Equity Management Inc. boosted its position in shares of TechnipFMC by 68.4% in the previous third quarter, now holding 1,694,759 shares worth about $44.45 million. Lastly, Arrowstreet Capital Limited Partnership elevated its stake in TechnipFMC by an impressive 184.0%, now owning 1,057,827 shares worth approximately $30.61 million after acquiring an additional 685,330 shares. As of now, institutional investors own about 96.58% of TechnipFMC's stock.

TechnipFMC Stock Performance

The shares of NYSE FTI opened at $31.73 on Tuesday. The business's 50-day simple moving average stands at $29.54, while the 200-day simple moving average is $28.99. TechnipFMC has a debt-to-equity ratio of 0.22, with a quick ratio of 0.89 and a current ratio of 1.14. The company’s stock has reached a 52-week low of $22.99 and a 52-week high of $33.45. With a market capitalization of $13.35 billion, its price-to-earnings ratio is 20.88, and it has a beta of 1.54.

TechnipFMC Dividend Announcement

The company has recently announced a quarterly dividend that is set to be paid on April 2nd. Stockholders on record as of March 18th will receive a dividend of $0.05 per share. This brings TechnipFMC’s annualized dividend to $0.20, reflecting a dividend yield of 0.63%. The ex-dividend date is also March 18th, and the company's dividend payout ratio currently stands at 10.42%.

Wall Street Analyst Opinions

Various research firms have recently released reports on TechnipFMC. Barclays increased its price target for the shares from $42.00 to $43.00, assigning the company an "overweight" rating on March 3rd. Similarly, Jefferies Financial Group upgraded TechnipFMC from a "hold" to a "buy" rating, raising its target price from $29.00 to $40.00 as of December 6th. Piper Sandler announced an increase in their price target from $39.00 to $40.00 while granting the stock an "overweight" rating on February 28th. StockNews.com, however, downgraded the rating from "buy" to "hold" on March 27th. Lastly, Evercore ISI raised its target from $37.00 to $39.00, assigning an "outperform" rating. The consensus from analysts shows two ratings as hold, twelve as buy, and one as strong buy, with an average price target of $36.31, reflecting a "Moderate Buy" consensus according to MarketBeat.

Insider Activity

In related developments, Director Eleazar De Carvalho Filho sold 9,381 shares of TechnipFMC on March 24th for an average price of $29.76, totaling a transaction value of $279,178.56. Post-sale, he retains ownership of 100,951 shares, valued at approximately $3 million, representing an 8.50% decline in his position. Furthermore, Chief Accounting Officer David Light sold 10,147 shares on March 11th at an average price of $24.90, totaling $252,660.30. After this transaction, he now directly owns 7,529 shares valued at around $187,472, reflecting a 57.41% reduction in his stake. In total, insiders sold 61,706 shares valued at $1.65 million in the past 90 days, with 1.80% of the company remains owned by insiders.

About TechnipFMC

TechnipFMC plc is involved in energy projects, technologies, systems, and services across various regions including Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, and the Middle East. The company operates through two segments: Subsea and Surface Technologies. The Subsea segment focuses on design, engineering, procurement, manufacturing, fabrication, installation, and life-cycle services for subsea systems, infrastructure, and pipeline systems essential for oil and gas production and transportation.

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