135,113 Shares in TechnipFMC plc (NYSE:FTI) Bought by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP purchased a new stake in TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 135,113 shares of the oil and gas company’s stock, valued at approximately $3,910,000. TechnipFMC comprises 1.3% of Wakefield Asset Management LLLP’s holdings, making the stock its 22nd largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning raised its holdings in TechnipFMC by 22.9% during the third quarter. Creative Planning now owns 21,372 shares of the oil and gas company’s stock worth $561,000 after acquiring an additional 3,980 shares in the last quarter. Blue Trust Inc. increased its position in shares of TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of TechnipFMC during the 3rd quarter worth approximately $363,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of TechnipFMC by 152.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 37,440 shares of the oil and gas company’s stock valued at $982,000 after buying an additional 22,624 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its holdings in TechnipFMC by 159.0% during the third quarter. Pallas Capital Advisors LLC now owns 23,051 shares of the oil and gas company’s stock worth $596,000 after buying an additional 14,150 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

NYSE:FTI opened at $28.72 on Friday. TechnipFMC plc has a 52 week low of $21.36 and a 52 week high of $33.45. 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 firm’s 50-day simple moving average is $30.60 and its 200 day simple moving average is $28.56. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 18.89 and a beta of 1.52.

TechnipFMC Announces Dividend

The firm 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 $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.70%. TechnipFMC’s payout ratio is 13.16%.

Analysts Set New Price Targets

A number of brokerages have commented on FTI. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Evercore ISI lifted 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. Citigroup upped their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. TD Cowen reiterated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group began coverage on TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Buy” and an average target price of $36.15.

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.