Daiwa Securities Group Inc. Has $1.20 Million Stock Position in TechnipFMC plc (NYSE:FTI)

Daiwa Securities Group Inc. grew its stake in shares of TechnipFMC plc (NYSE:FTI) by 176.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 41,400 shares of the oil and gas company’s stock after buying an additional 26,400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in TechnipFMC were worth $1,198,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FTI. Pacer Advisors Inc. acquired a new stake in shares of TechnipFMC in the 3rd quarter worth about $185,643,000. Westfield Capital Management Co. LP acquired a new stake in shares of TechnipFMC in the 3rd quarter worth about $49,273,000. Jennison Associates LLC raised its holdings in shares of TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock worth $61,918,000 after acquiring an additional 1,150,049 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised 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 acquiring an additional 773,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised 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 acquiring an additional 688,622 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Buying and Selling

In related news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David Light sold 10,147 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now owns 7,529 shares in the company, 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. 1.06% of the stock is owned by insiders.

TechnipFMC Stock Up 2.8 %

FTI opened at $27.25 on Friday. The company has a 50 day moving average of $30.07 and a 200 day moving average of $28.60. The company has a market cap of $11.46 billion, a PE ratio of 17.92 and a beta of 1.54. 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.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Piper Sandler upped their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays upped their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $36.31.

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.