TechnipFMC plc (NYSE:FTI) Shares Bought by Sciencast Management LP

Sciencast Management LP lifted its stake in shares of TechnipFMC plc (NYSE:FTI) by 501.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,552 shares of the oil and gas company’s stock after buying an additional 84,661 shares during the quarter. Sciencast Management LP’s holdings in TechnipFMC were worth $2,939,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. iA Global Asset Management Inc. acquired a new position in TechnipFMC during the 4th quarter worth approximately $214,000. Teacher Retirement System of Texas grew its stake in shares of TechnipFMC by 35.1% during the fourth quarter. Teacher Retirement System of Texas now owns 273,853 shares of the oil and gas company’s stock worth $7,925,000 after purchasing an additional 71,168 shares in the last quarter. Xponance Inc. increased its holdings in TechnipFMC by 24.4% in the fourth quarter. Xponance Inc. now owns 20,221 shares of the oil and gas company’s stock valued at $585,000 after buying an additional 3,960 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in TechnipFMC by 336.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 35,266 shares of the oil and gas company’s stock valued at $1,021,000 after buying an additional 27,190 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in TechnipFMC in the fourth quarter valued at $529,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

NYSE FTI opened at $29.31 on Friday. The firm has a market cap of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54. TechnipFMC plc has a 52-week low of $22.99 and a 52-week high of $33.45. The business’s 50-day moving average price is $29.74 and its 200 day moving average price is $28.66. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC Announces Dividend

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

Insider Activity

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO David Light sold 10,147 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FTI. Piper Sandler increased their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Evercore ISI increased their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Barclays boosted 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. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.