TechnipFMC plc (NYSE:FTI) Receives Consensus Recommendation of “Buy” from Analysts

TechnipFMC plc (NYSE:FTI) has received an average rating of “Buy” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $36.31.

A number of equities analysts recently issued reports on FTI shares. Barclays upped their price target on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Piper Sandler lifted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Evercore ISI upped their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th.

Insider Buying and Selling at TechnipFMC

In other news, CAO David Light sold 10,147 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the sale, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. This trade 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 have sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TechnipFMC

A number of large investors have recently modified their holdings of FTI. Captrust Financial Advisors grew its holdings in TechnipFMC by 11.7% during the third quarter. Captrust Financial Advisors now owns 40,741 shares of the oil and gas company’s stock worth $1,069,000 after acquiring an additional 4,273 shares during the period. State Street Corp grew its stake in shares of TechnipFMC by 1.7% during the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after purchasing an additional 133,775 shares during the period. XTX Topco Ltd increased its holdings in shares of TechnipFMC by 22.8% in the 3rd quarter. XTX Topco Ltd now owns 34,271 shares of the oil and gas company’s stock valued at $899,000 after purchasing an additional 6,355 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of TechnipFMC in the third quarter valued at about $4,086,000. Finally, M&T Bank Corp boosted its holdings in TechnipFMC by 18.8% during the third quarter. M&T Bank Corp now owns 20,602 shares of the oil and gas company’s stock worth $541,000 after buying an additional 3,255 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Up 3.5 %

NYSE:FTI opened at $25.00 on Monday. TechnipFMC has a 1 year low of $22.12 and a 1 year high of $33.45. The stock has a market cap of $10.51 billion, a P/E ratio of 16.44 and a beta of 1.11. 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 stock has a 50-day simple moving average of $28.55 and a 200-day simple moving average of $29.00.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.80%. The ex-dividend date was Tuesday, March 18th. TechnipFMC’s dividend payout ratio is presently 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.