Raymond James Financial Inc. Makes New Investment in TechnipFMC plc (NYSE:FTI)

Raymond James Financial Inc. bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 316,224 shares of the oil and gas company’s stock, valued at approximately $9,152,000. Raymond James Financial Inc. owned approximately 0.07% of TechnipFMC at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in 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 worth $98,838,000 after acquiring an additional 679,748 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of TechnipFMC in the fourth quarter valued at about $519,000. Westfield Capital Management Co. LP bought a new stake in shares of TechnipFMC in the third quarter valued at about $49,273,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of TechnipFMC by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after purchasing an additional 249,719 shares in the last quarter. Finally, Ninety One UK Ltd lifted its holdings in shares of TechnipFMC by 69.7% in the fourth quarter. Ninety One UK Ltd now owns 813,016 shares of the oil and gas company’s stock valued at $23,529,000 after purchasing an additional 333,897 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. The trade was a 57.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $29.31 on Friday. The business’s 50 day moving average price is $29.74 and its two-hundred day moving average price is $28.66. The company has a market cap of $12.33 billion, a PE ratio of 19.28 and a beta of 1.54. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45.

TechnipFMC Dividend Announcement

The firm also recently declared 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 0.68%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Analyst Ratings Changes

A number of brokerages have recently commented on FTI. Barclays boosted 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. Piper Sandler boosted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. TD Cowen restated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. The Goldman Sachs Group assumed coverage on TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Evercore ISI lifted their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price 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.