TechnipFMC plc (NYSE:FTI) Holdings Lifted by LPL Financial LLC

LPL Financial LLC increased its holdings in TechnipFMC plc (NYSE:FTI) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 409,621 shares of the oil and gas company’s stock after acquiring an additional 36,652 shares during the period. LPL Financial LLC owned about 0.10% of TechnipFMC worth $12,482,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FTI. Smartleaf Asset Management LLC lifted its position in shares of TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in TechnipFMC in the 4th quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TechnipFMC during the 4th quarter valued at $46,000. EverSource Wealth Advisors LLC grew its holdings in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 563 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and boosted their target price for the company from $29.00 to $40.00 in a research note on Friday, December 6th. The Goldman Sachs Group assumed coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. Piper Sandler raised their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Barclays boosted their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Finally, Evercore ISI lifted 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. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $36.31.

Insider Activity at TechnipFMC

In related news, CAO David Light sold 10,147 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was 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 approximately $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction on Monday, March 24th. The shares were 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 approximately $3,004,301.76. This represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,706 shares of company stock worth $1,651,665 in the last ninety days. 1.80% of the stock is currently owned by insiders.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $32.63 on Thursday. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 21.47 and a beta of 1.54. The business has a 50 day moving average price of $29.55 and a 200 day moving average price of $29.07. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 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.