TechnipFMC plc (NYSE:FTI) Stock Position Increased by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. lifted its position in TechnipFMC plc (NYSE:FTI) by 3.0% in the 4th quarter, HoldingsChannel reports. The firm owned 246,304 shares of the oil and gas company’s stock after purchasing an additional 7,266 shares during the quarter. TechnipFMC makes up about 1.4% of Ramirez Asset Management Inc.’s portfolio, making the stock its 10th largest position. Ramirez Asset Management Inc.’s holdings in TechnipFMC were worth $7,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FTI. Charles Schwab Investment Management Inc. boosted its holdings in shares of TechnipFMC by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock valued at $89,177,000 after acquiring an additional 219,081 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in TechnipFMC in the third quarter valued at $393,000. Fisher Asset Management LLC grew its position in TechnipFMC by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 533,607 shares of the oil and gas company’s stock worth $13,997,000 after purchasing an additional 1,747 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of TechnipFMC by 216.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 18,905 shares of the oil and gas company’s stock valued at $496,000 after buying an additional 12,928 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of TechnipFMC by 1,630.7% in the 3rd quarter. Bank of Montreal Can now owns 287,454 shares of the oil and gas company’s stock valued at $7,347,000 after buying an additional 270,845 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Up 1.4 %

Shares of FTI opened at $31.22 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $29.59 and a 200 day moving average price of $28.81. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The firm has a market capitalization of $13.13 billion, a P/E ratio of 20.54 and a beta of 1.54.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s payout ratio is presently 10.42%.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the transaction, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 140,207 shares of the company’s stock, valued at $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,706 shares of company stock worth $1,651,665. Insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FTI. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and raised their target price for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Barclays lifted 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. Evercore ISI increased 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. The Goldman Sachs Group started coverage on shares of TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Piper Sandler upped their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.