Daiwa Securities Group Inc. Acquires 26,400 Shares of TechnipFMC plc (NYSE:FTI)

Daiwa Securities Group Inc. grew its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 176.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,400 shares of the oil and gas company's stock after purchasing an additional 26,400 shares during the quarter. Daiwa Securities Group Inc.'s holdings in TechnipFMC were worth $1,198,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Assetmark Inc. acquired a new stake in TechnipFMC during the 3rd quarter worth $265,000. Sigma Planning Corp lifted its holdings in shares of TechnipFMC by 32.6% in the third quarter. Sigma Planning Corp now owns 11,164 shares of the oil and gas company's stock valued at $293,000 after purchasing an additional 2,743 shares in the last quarter. Versor Investments LP bought a new stake in shares of TechnipFMC in the third quarter valued at about $304,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings 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 in the last quarter. Finally, KBC Group NV lifted its holdings in shares of TechnipFMC by 15.7% in the third quarter. KBC Group NV now owns 12,485 shares of the oil and gas company's stock valued at $327,000 after purchasing an additional 1,692 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded down $0.33 on Tuesday, hitting $27.89. The stock had a trading volume of 221,646 shares, compared to its average volume of 3,717,597. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45. The business's 50 day moving average is $30.00 and its two-hundred day moving average is $28.62. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 18.40 and a beta of 1.54.

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TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Tuesday, March 18th. TechnipFMC's payout ratio is 10.42%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on TechnipFMC in a report on Friday, December 13th. They issued a "buy" rating and a $38.00 price target on the stock. Royal Bank of Canada assumed coverage on TechnipFMC in a report on Monday, November 18th. They issued an "outperform" rating and a $37.00 price target on the stock. Evercore ISI boosted their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. TD Cowen restated a "buy" rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Barclays lifted their target price on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $36.31.

Insider Activity

In related news, CAO David Light sold 10,147 shares of the business's stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Justin Rounce sold 42,178 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 140,207 shares of the company's stock, valued at approximately $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. 1.06% of the stock is owned by company insiders.

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.