TechnipFMC plc (NYSE:FTI) Holdings Lifted by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. raised its holdings in TechnipFMC plc (NYSE:FTI) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 246,304 shares of the oil and gas company’s stock after buying an additional 7,266 shares during the quarter. TechnipFMC comprises 1.4% of Ramirez Asset Management Inc.’s investment portfolio, making the stock its 10th largest position. Ramirez Asset Management Inc. owned approximately 0.06% of TechnipFMC worth $7,128,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in TechnipFMC during the fourth quarter valued at $96,808,000. Vanguard Group Inc. boosted its stake in TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after purchasing an additional 1,623,864 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in 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 purchasing an additional 773,000 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in TechnipFMC by 68.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock worth $44,454,000 after buying an additional 688,622 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after acquiring an additional 679,748 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction on 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 sale, the executive vice president now owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares of the company’s stock, valued at $3,004,301.76. This represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,706 shares of company stock worth $1,651,665. 1.06% of the stock is currently owned by company insiders.

TechnipFMC Trading Up 1.4 %

Shares of FTI opened at $31.22 on Friday. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45. The company’s fifty day simple moving average is $29.59 and its 200-day simple moving average is $28.81. The company has a market cap of $13.13 billion, a P/E ratio of 20.54 and a beta of 1.54. 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 Announces Dividend

The company also recently announced 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Analysts Set New Price Targets

A number of brokerages have weighed in on FTI. The Goldman Sachs Group started coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. 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, March 3rd. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Sandler increased their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.31.

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.