Charles Schwab Investment Management Inc. boosted its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,649,541 shares of the oil and gas company's stock after buying an additional 249,719 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.86% of TechnipFMC worth $105,618,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in FTI. Franklin Resources Inc. lifted its position in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of TechnipFMC in the fourth quarter worth about $519,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of TechnipFMC by 971.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock valued at $10,692,000 after purchasing an additional 369,594 shares during the period. ING Groep NV lifted its stake in shares of TechnipFMC by 15.3% during the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after buying an additional 114,600 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in TechnipFMC in the 3rd quarter worth approximately $49,273,000. Hedge funds and other institutional investors own 96.58% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on FTI shares. Piper Sandler boosted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Barclays boosted their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. The Goldman Sachs Group began coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a "buy" rating and a $38.00 price objective for the company. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Finally, Citigroup upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $36.31.
Get Our Latest Research Report on FTI
TechnipFMC Stock Up 0.2 %
Shares of FTI stock traded up $0.06 during midday trading on Thursday, reaching $26.44. 4,698,998 shares of the stock were exchanged, compared to its average volume of 3,785,305. TechnipFMC plc has a 1 year low of $22.33 and a 1 year high of $33.45. The firm has a market cap of $11.12 billion, a PE ratio of 17.40 and a beta of 1.54. The company's 50 day moving average is $30.21 and its two-hundred day moving average is $28.60. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.
TechnipFMC Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a $0.05 dividend. 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 0.76%. TechnipFMC's dividend payout ratio (DPR) is 10.42%.
TechnipFMC Company Profile
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Free Report)
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.
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