229,640 Shares in TechnipFMC plc (NYSE:FTI) Acquired by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC bought a new stake in TechnipFMC plc (NYSE:FTI) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 229,640 shares of the oil and gas company’s stock, valued at approximately $6,646,000.

A number of other large investors also recently added to or reduced their stakes in FTI. Norges Bank acquired a new stake in TechnipFMC during the 4th quarter worth approximately $96,808,000. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 1,623,864 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of TechnipFMC by 50.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock valued at $66,842,000 after purchasing an additional 773,000 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of TechnipFMC by 68.4% during the 3rd 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of TechnipFMC by 184.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,057,827 shares of the oil and gas company’s stock worth $30,614,000 after purchasing an additional 685,330 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FTI shares. Barclays lifted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Piper Sandler raised their price objective 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. Evercore ISI upped their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. The Goldman Sachs Group started coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Jefferies Financial Group raised 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 report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned 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 target price of $36.31.

TechnipFMC Trading Up 1.5 %

Shares of FTI opened at $32.16 on Wednesday. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The company has a market capitalization of $13.53 billion, a PE ratio of 21.16 and a beta of 1.54. The stock has a fifty day moving average of $29.53 and a two-hundred day moving average of $29.05. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.62%. TechnipFMC’s payout ratio is currently 10.42%.

Insider Buying and Selling

In other 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 transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. This represents a 57.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the transaction, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is owned by company insiders.

TechnipFMC 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.