Daiwa Securities Group Inc. Acquires 26,400 Shares of TechnipFMC plc (NYSE:FTI)

Daiwa Securities Group Inc. increased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 176.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,400 shares of the oil and gas company’s stock after acquiring 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 filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Baker Tilly Wealth Management LLC increased its position in TechnipFMC by 4.1% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock worth $248,000 after acquiring an additional 338 shares during the period. Yousif Capital Management LLC increased its holdings in TechnipFMC by 4.6% in the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 357 shares during the period. Sigma Planning Corp increased its holdings in TechnipFMC by 3.3% in the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock valued at $334,000 after buying an additional 363 shares during the period. GAMMA Investing LLC increased its holdings in TechnipFMC by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 414 shares during the period. Finally, Ballentine Partners LLC increased its holdings in TechnipFMC by 3.8% in the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock valued at $337,000 after buying an additional 423 shares during the period. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling at TechnipFMC

In other news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the transaction, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

FTI has been the topic of several recent analyst reports. Royal Bank of Canada initiated coverage on shares of TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price on the stock. Evercore ISI raised their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. The Goldman Sachs Group initiated 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. TD Cowen restated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Finally, Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $36.31.

TechnipFMC Stock Performance

Shares of FTI opened at $27.25 on Friday. 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 stock has a market capitalization of $11.46 billion, a P/E ratio of 17.92 and a beta of 1.54. The firm’s fifty day simple moving average is $30.07 and its two-hundred day simple moving average is $28.60. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. TechnipFMC’s dividend payout ratio (DPR) is currently 10.42%.

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.