TechnipFMC plc (NYSE:FTI) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 176.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,400 shares of the oil and gas company's stock after buying 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 quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in 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 valued at $98,838,000 after purchasing an additional 679,748 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in TechnipFMC in the 4th quarter valued at approximately $519,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in TechnipFMC by 971.5% in the 3rd 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. Westfield Capital Management Co. LP purchased a new stake in TechnipFMC in the 3rd quarter valued at approximately $49,273,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in TechnipFMC by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock valued at $105,618,000 after purchasing an additional 249,719 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FTI. Evercore ISI lifted their price objective on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Royal Bank of Canada initiated coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an "outperform" rating and a $37.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 price target for the company. Barclays lifted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and lifted their price target for the company from $29.00 to $40.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.31.

TechnipFMC Trading Up 3.8 %

Shares of NYSE FTI traded up $1.03 during trading on Monday, hitting $28.27. 1,420,674 shares of the company traded hands, compared to its average volume of 3,724,458. TechnipFMC plc has a 1 year low of $22.99 and a 1 year high of $33.45. The company has a 50-day moving average price of $30.07 and a 200-day moving average price of $28.61. The firm has a market capitalization of $11.89 billion, a P/E ratio of 18.59 and a beta of 1.54. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC Dividend Announcement

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 is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. TechnipFMC's dividend payout ratio is currently 10.42%.

Insiders Place Their Bets

In other news, EVP Justin Rounce sold 42,178 shares of the company'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 sale, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO David Light sold 10,147 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were 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 owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. 1.06% of the stock is currently 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.