Bank of New York Mellon Corp Has $42.08 Million Position in TechnipFMC plc (NYSE:FTI)

Bank of New York Mellon Corp increased its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,454,101 shares of the oil and gas company's stock after purchasing an additional 152,161 shares during the period. Bank of New York Mellon Corp owned approximately 0.34% of TechnipFMC worth $42,082,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its holdings in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after buying an additional 679,748 shares in the last quarter. Park Avenue Securities LLC bought a new stake in TechnipFMC in the fourth quarter valued at $519,000. Sumitomo Mitsui Trust Group Inc. raised its stake in TechnipFMC by 971.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock worth $10,692,000 after acquiring an additional 369,594 shares in the last quarter. ING Groep NV lifted its holdings in shares of TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after acquiring an additional 114,600 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at $49,273,000. Institutional investors own 96.58% of the company's stock.

TechnipFMC Trading Down 5.3 %

TechnipFMC stock traded down $1.42 during mid-day trading on Monday, hitting $25.25. The stock had a trading volume of 12,805,369 shares, compared to its average volume of 3,761,998. The stock has a 50-day simple moving average of $30.40 and a two-hundred day simple moving average of $28.63. TechnipFMC plc has a 12 month low of $21.78 and a 12 month high of $33.45. The stock has a market capitalization of $10.62 billion, a PE ratio of 16.61 and a beta of 1.54. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

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TechnipFMC Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC's dividend payout ratio (DPR) is currently 10.42%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FTI shares. Barclays increased their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Royal Bank of Canada began coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an "outperform" rating and a $37.00 price objective for the company. Piper Sandler boosted their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. TD Cowen reaffirmed a "buy" rating and set a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. 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 MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $36.31.

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.