Vanguard Group Inc. Raises Stock Holdings in TechnipFMC plc (NYSE:FTI)

Vanguard Group Inc. grew its stake in shares of TechnipFMC plc (NYSE:FTI) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,793,925 shares of the oil and gas company’s stock after acquiring an additional 1,623,864 shares during the quarter. Vanguard Group Inc. owned about 9.59% of TechnipFMC worth $1,180,576,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in TechnipFMC by 1.7% in the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after purchasing an additional 133,775 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of TechnipFMC by 1.2% during the 4th quarter. American Century Companies Inc. now owns 3,869,442 shares of the oil and gas company’s stock valued at $111,982,000 after buying an additional 46,224 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of TechnipFMC by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock worth $105,618,000 after acquiring an additional 249,719 shares during the period. Franklin Resources Inc. increased its position in TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after acquiring an additional 679,748 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in TechnipFMC by 10.4% in the fourth quarter. Van ECK Associates Corp now owns 2,987,606 shares of the oil and gas company’s stock valued at $86,461,000 after acquiring an additional 281,665 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FTI has been the subject of several research reports. Barclays upped their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their target price for the company from $29.00 to $40.00 in a report on Friday, December 6th. The Goldman Sachs Group started coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price objective for the company. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Piper Sandler boosted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.31.

TechnipFMC Stock Up 1.4 %

Shares of FTI opened at $31.22 on Friday. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $13.13 billion, a PE ratio of 20.54 and a beta of 1.54. The business’s 50 day moving average is $29.59 and its 200 day moving average is $28.81.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Insider Buying and Selling

In other news, EVP Justin Rounce sold 42,178 shares of the company’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 sale, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at $3,722,495.85. This represents a 23.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Light sold 10,147 shares of the 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 transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,706 shares of company stock worth $1,651,665. 1.06% of the stock is owned by insiders.

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.