Smartleaf Asset Management LLC Buys 525 Shares of TechnipFMC plc (NYSE:FTI)

Smartleaf Asset Management LLC grew its stake in TechnipFMC plc (NYSE:FTI) by 55.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,476 shares of the oil and gas company’s stock after purchasing an additional 525 shares during the quarter. Smartleaf Asset Management LLC’s holdings in TechnipFMC were worth $43,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FTI. Chase Investment Counsel Corp purchased a new stake in TechnipFMC in the fourth quarter worth about $527,000. US Bancorp DE increased its position in shares of TechnipFMC by 6.1% during the fourth quarter. US Bancorp DE now owns 86,550 shares of the oil and gas company’s stock valued at $2,505,000 after acquiring an additional 4,965 shares in the last quarter. Fisher Asset Management LLC boosted its stake in TechnipFMC by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 550,127 shares of the oil and gas company’s stock valued at $15,921,000 after purchasing an additional 16,520 shares during the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of TechnipFMC during the 4th quarter valued at about $3,910,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of TechnipFMC by 11.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,454,101 shares of the oil and gas company’s stock valued at $42,082,000 after purchasing an additional 152,161 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FTI. TD Cowen reissued a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Royal Bank of Canada started coverage on TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. The Goldman Sachs Group initiated coverage on TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and raised their target price for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, Evercore ISI lifted their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. One investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $36.31.

TechnipFMC Price Performance

Shares of FTI stock opened at $25.86 on Wednesday. The company has a market cap of $10.88 billion, a P/E ratio of 17.02 and a beta of 1.54. The stock’s 50-day moving average is $30.26 and its 200 day moving average is $28.62. TechnipFMC plc has a 1-year low of $22.08 and a 1-year high of $33.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. TechnipFMC’s payout ratio is 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.