Raymond James Financial Inc. Purchases New Holdings in TechnipFMC plc (NYSE:FTI)

Raymond James Financial Inc. bought a new position in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 316,224 shares of the oil and gas company’s stock, valued at approximately $9,152,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in TechnipFMC by 55.2% during 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 during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in TechnipFMC during the fourth quarter worth $45,000. V Square Quantitative Management LLC lifted its stake in TechnipFMC by 48.2% during 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 purchasing an additional 563 shares during the last quarter. True Wealth Design LLC bought a new stake in TechnipFMC during the third quarter worth $57,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in TechnipFMC by 106.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,031 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 1,047 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FTI has been the subject of a number of research reports. Barclays increased their price target on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. The Goldman Sachs Group initiated coverage on TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price target for the company. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and increased their price target for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, TD Cowen reiterated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. One research 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $36.31.

TechnipFMC Stock Performance

NYSE FTI opened at $29.31 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $29.74 and a 200 day simple moving average of $28.66. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 19.28 and a beta of 1.54.

TechnipFMC Announces Dividend

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 issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. TechnipFMC’s payout ratio is currently 10.42%.

Insiders Place Their Bets

In other news, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. This represents a 57.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Justin Rounce sold 42,178 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

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.