Stevens Capital Management LP Acquires New Stake in TechnipFMC plc (NYSE:FTI)

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

A number of other large investors have also made changes to their positions in FTI. Natixis Advisors LLC boosted its stake in shares of TechnipFMC by 14.6% during the third quarter. Natixis Advisors LLC now owns 109,330 shares of the oil and gas company’s stock valued at $2,868,000 after acquiring an additional 13,889 shares during the last quarter. Pathstone Holdings LLC lifted its position in TechnipFMC by 1.5% during the third quarter. Pathstone Holdings LLC now owns 113,624 shares of the oil and gas company’s stock worth $2,980,000 after buying an additional 1,714 shares during the period. PNC Financial Services Group Inc. lifted its position in TechnipFMC by 12.6% during the third quarter. PNC Financial Services Group Inc. now owns 213,539 shares of the oil and gas company’s stock worth $5,601,000 after buying an additional 23,893 shares during the period. Charles Schwab Investment Management Inc. lifted its position in TechnipFMC by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock worth $89,177,000 after buying an additional 219,081 shares during the period. Finally, Cerity Partners LLC lifted its position in TechnipFMC by 121.3% during the third quarter. Cerity Partners LLC now owns 908,936 shares of the oil and gas company’s stock worth $23,841,000 after buying an additional 498,137 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the sale, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $29.31 on Monday. The company has a market cap of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a one year low of $22.99 and a one year high of $33.45. The business’s 50-day simple moving average is $29.74 and its 200 day simple moving average is $28.70.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. TechnipFMC’s payout ratio is currently 10.42%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and increased their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Barclays increased their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. TD Cowen reiterated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Evercore ISI raised their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group initiated coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. One 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 stock. Based on data from MarketBeat, TechnipFMC presently has a consensus rating of “Buy” and an average target price of $36.31.

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.