Fisher Asset Management LLC Increases Position in TechnipFMC plc (NYSE:FTI)

Fisher Asset Management LLC increased its stake in TechnipFMC plc (NYSE:FTI) by 3.1% in the 4th quarter, Holdings Channel reports. The fund owned 550,127 shares of the oil and gas company’s stock after buying an additional 16,520 shares during the quarter. Fisher Asset Management LLC’s holdings in TechnipFMC were worth $15,921,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new position in TechnipFMC in the fourth quarter worth $45,000. V Square Quantitative Management LLC grew its position in TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 563 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in TechnipFMC in the third quarter worth $56,000. True Wealth Design LLC purchased a new position in TechnipFMC in the third quarter worth $57,000. Finally, GAMMA Investing LLC grew its position in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 414 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FTI. 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. Royal Bank of Canada began coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. The Goldman Sachs Group began coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price target for the company. Evercore ISI upped their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Finally, Citigroup upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $36.31.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $28.19 on Tuesday. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 18.55 and a beta of 1.52. The company has a 50-day moving average price of $30.60 and a 200-day moving average price of $28.62. 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 plc has a 12 month low of $21.36 and a 12 month high of $33.45.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is currently 10.42%.

TechnipFMC Company 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.