TechnipFMC plc (NYSE:FTI) Stock Position Lifted by Jones Financial Companies Lllp

Jones Financial Companies Lllp grew its position in shares of TechnipFMC plc (NYSE:FTI) by 1,024.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,347 shares of the oil and gas company’s stock after buying an additional 13,071 shares during the period. Jones Financial Companies Lllp’s holdings in TechnipFMC were worth $415,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. increased its position in TechnipFMC by 23.0% in the 3rd 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 during the period. Park Avenue Securities LLC acquired a new position in shares of TechnipFMC in the 4th quarter worth $519,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of TechnipFMC by 971.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after acquiring an additional 369,594 shares during the last quarter. ING Groep NV grew its holdings in shares of TechnipFMC by 15.3% in the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after acquiring an additional 114,600 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of TechnipFMC in the 3rd quarter worth $49,273,000. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FTI. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and lifted their target price for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Piper Sandler raised their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. The Goldman Sachs Group started coverage on TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada started coverage on TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price for the company. Finally, Citigroup raised their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $36.31.

TechnipFMC Trading Up 2.2 %

TechnipFMC stock opened at $25.86 on Wednesday. The firm has a 50-day moving average of $30.26 and a 200-day moving average of $28.62. TechnipFMC plc has a one year low of $22.08 and a one 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. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 17.02 and a beta of 1.54.

TechnipFMC Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.77%. TechnipFMC’s dividend payout ratio (DPR) 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.