Stevens Capital Management LP Invests $377,000 in TechnipFMC plc (NYSE:FTI)

Stevens Capital Management LP bought a new position in TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,029 shares of the oil and gas company’s stock, valued at approximately $377,000.

Several other hedge funds also recently made changes to their positions in FTI. Westfield Capital Management Co. LP acquired a new position in shares of TechnipFMC in the 3rd quarter worth approximately $49,273,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of TechnipFMC by 50.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock worth $66,842,000 after purchasing an additional 773,000 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of TechnipFMC by 68.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock worth $44,454,000 after purchasing an additional 688,622 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after purchasing an additional 679,748 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of TechnipFMC by 121.3% in the 3rd quarter. Cerity Partners LLC now owns 908,936 shares of the oil and gas company’s stock worth $23,841,000 after purchasing an additional 498,137 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.1 %

FTI opened at $29.31 on Monday. TechnipFMC plc has a one year low of $22.99 and a one year 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 stock’s fifty day moving average is $29.74 and its 200-day moving average is $28.70. The company has a market capitalization of $12.33 billion, a PE ratio of 19.28 and a beta of 1.54.

TechnipFMC Announces Dividend

The company also recently disclosed 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 0.68%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is presently 10.42%.

Analysts Set New Price Targets

Several analysts recently issued reports on FTI shares. Barclays raised their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Evercore ISI raised 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. Piper Sandler raised their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and lifted their target price for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, The Goldman Sachs Group initiated coverage on TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $36.31.

Insider Transactions at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO David Light sold 10,147 shares of TechnipFMC 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 completion of the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

About TechnipFMC

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.