Vanguard Group Inc. Grows Stake in TechnipFMC plc (NYSE:FTI)

Vanguard Group Inc. raised its stake in shares of TechnipFMC plc (NYSE:FTI) by 4.1% during the fourth quarter, HoldingsChannel reports. The firm owned 40,793,925 shares of the oil and gas company’s stock after buying an additional 1,623,864 shares during the quarter. Vanguard Group Inc. owned about 0.10% of TechnipFMC worth $1,180,576,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in shares of TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in TechnipFMC during the fourth quarter valued at $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of TechnipFMC in the fourth quarter valued at $46,000. EverSource Wealth Advisors LLC lifted its holdings in shares of TechnipFMC by 393.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,338 shares during the last quarter. Finally, 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 period. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Up 1.4 %

Shares of TechnipFMC stock opened at $31.22 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 20.54 and a beta of 1.54. The firm’s 50-day moving average is $29.59 and its two-hundred day moving average is $28.81. TechnipFMC plc has a 1 year low of $22.99 and a 1 year high of $33.45.

TechnipFMC Announces Dividend

The firm 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 dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s dividend payout ratio is presently 10.42%.

Analysts Set New Price Targets

A number of analysts recently weighed in on FTI shares. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and increased their price target for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Piper Sandler upped their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Barclays increased their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Finally, StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $36.31.

Insider Activity at TechnipFMC

In other news, 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 transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the company’s 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 sale, the executive vice president now owns 140,207 shares of the company’s stock, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock valued at $1,651,665 over the last ninety days. 1.06% of the stock is owned by company insiders.

TechnipFMC Company 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.