EverSource Wealth Advisors LLC Acquires 1,338 Shares of TechnipFMC plc (NYSE:FTI)

EverSource Wealth Advisors LLC lifted its position in shares of TechnipFMC plc (NYSE:FTI) by 393.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,678 shares of the oil and gas company’s stock after buying an additional 1,338 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in TechnipFMC were worth $49,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Baker Tilly Wealth Management LLC grew its position in shares of TechnipFMC by 4.1% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock worth $248,000 after buying an additional 338 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of TechnipFMC by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock worth $236,000 after buying an additional 357 shares in the last quarter. Sigma Planning Corp grew its position in shares of TechnipFMC by 3.3% during the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock worth $334,000 after buying an additional 363 shares in the last quarter. GAMMA Investing LLC grew its position in shares of TechnipFMC by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after buying an additional 414 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in shares of TechnipFMC by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after buying an additional 423 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FTI. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Piper Sandler upped their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. TD Cowen restated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group assumed coverage on TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 price objective for the company. 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 stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Buy” and a consensus target price of $36.31.

Insider Transactions at TechnipFMC

In other news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of the firm’s stock in a transaction dated 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 owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

TechnipFMC Trading Up 2.5 %

TechnipFMC stock opened at $28.80 on Thursday. The stock has a 50-day moving average of $29.85 and a two-hundred day moving average of $28.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a one year low of $22.99 and a one year high of $33.45. The stock has a market cap of $12.11 billion, a PE ratio of 18.95 and a beta of 1.54.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is 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.