TechnipFMC plc (NYSE:FTI) Stake Raised by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of TechnipFMC plc (NYSE:FTI) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,396 shares of the oil and gas company’s stock after purchasing an additional 997 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in TechnipFMC were worth $2,703,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of TechnipFMC by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after buying an additional 1,623,864 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in TechnipFMC by 50.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock worth $66,842,000 after purchasing an additional 773,000 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in TechnipFMC by 68.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock worth $44,454,000 after purchasing an additional 688,622 shares in the last quarter. Franklin Resources Inc. boosted its stake in TechnipFMC by 23.0% during 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 purchasing an additional 679,748 shares in the last quarter. Finally, Ninety One UK Ltd increased its position in shares of TechnipFMC by 69.7% during the 4th 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 during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 1.8 %

Shares of TechnipFMC stock opened at $31.73 on Tuesday. The stock has a 50-day simple moving average of $29.54 and a 200-day simple moving average of $28.99. TechnipFMC plc has a 52-week low of $22.99 and a 52-week high of $33.45. The firm has a market cap of $13.35 billion, a price-to-earnings ratio of 20.88 and a beta of 1.54. 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 announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is 10.42%.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 10,147 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction 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 represents a 57.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock worth $1,651,665 in the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FTI. Barclays upped their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. 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. The Goldman Sachs Group began coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Evercore ISI increased their target price 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. Finally, StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.31.

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.