EverSource Wealth Advisors LLC Purchases 1,338 Shares of TechnipFMC plc (NYSE:FTI)

EverSource Wealth Advisors LLC raised its position in shares of TechnipFMC plc (NYSE:FTI) by 393.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,678 shares of the oil and gas company’s stock after purchasing an additional 1,338 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in TechnipFMC were worth $49,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FTI. Pacer Advisors Inc. bought a new position in shares of TechnipFMC during the 3rd quarter valued at approximately $185,643,000. Westfield Capital Management Co. LP bought a new position in shares of TechnipFMC during the 3rd quarter valued at approximately $49,273,000. Jennison Associates LLC grew its stake in shares of TechnipFMC by 95.0% during the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after acquiring an additional 1,150,049 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of TechnipFMC by 50.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock valued at $66,842,000 after acquiring an additional 773,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of TechnipFMC by 68.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock valued at $44,454,000 after acquiring an additional 688,622 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FTI. Piper Sandler boosted their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and boosted their price target for the stock from $29.00 to $40.00 in a report on Friday, December 6th. TD Cowen reissued a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Barclays boosted their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Finally, The Goldman Sachs Group initiated coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. One 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’s stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Buy” and a consensus target price of $36.31.

TechnipFMC Stock Performance

NYSE FTI opened at $28.80 on Thursday. The company has a market cap of $12.11 billion, a P/E ratio of 18.95 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The business’s 50 day moving average price is $29.85 and its 200-day moving average price is $28.63. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is currently 10.42%.

Insider Activity

In other news, CAO David Light sold 10,147 shares of the business’s 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 transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the business’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 transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

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.