Natixis Advisors LLC Grows Position in TechnipFMC plc (NYSE:FTI)

Natixis Advisors LLC boosted its stake in TechnipFMC plc (NYSE:FTI) by 77.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 194,442 shares of the oil and gas company’s stock after buying an additional 85,112 shares during the quarter. Natixis Advisors LLC’s holdings in TechnipFMC were worth $5,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. raised its position in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of TechnipFMC during the 4th quarter valued at $519,000. Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at $49,273,000. Charles Schwab Investment Management Inc. increased its position in shares of TechnipFMC by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after purchasing an additional 249,719 shares during the last quarter. Finally, Ninety One UK Ltd increased its position in shares of TechnipFMC by 69.7% during the 4th quarter. Ninety One UK Ltd now owns 813,016 shares of the oil and gas company’s stock valued at $23,529,000 after purchasing an additional 333,897 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David Light sold 10,147 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at $187,472.10. The trade was a 57.41 % decrease in their position. The disclosure for this sale can be found here. 1.06% of the stock is owned by corporate insiders.

TechnipFMC Stock Up 0.1 %

Shares of NYSE FTI opened at $29.31 on Friday. TechnipFMC plc has a 52 week low of $22.99 and a 52 week high of $33.45. The business has a 50-day simple moving average of $29.74 and a two-hundred day simple moving average of $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. The company has a market cap of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54.

TechnipFMC Dividend Announcement

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 yield of 0.68%. TechnipFMC’s dividend payout ratio is currently 10.42%.

Wall Street Analysts Forecast Growth

FTI has been the subject of several research analyst reports. Piper Sandler raised their target price on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Evercore ISI raised their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group started coverage on TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and increased their price target for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, TD Cowen reiterated a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. One equities 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 data from MarketBeat, the stock has a consensus 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.