TechnipFMC plc (NYSE:FTI) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its position in TechnipFMC plc (NYSE:FTI - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,749,465 shares of the oil and gas company's stock after acquiring an additional 1,319,015 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.29% of TechnipFMC worth $282,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in TechnipFMC during the 4th quarter worth approximately $96,808,000. Vanguard Group Inc. grew its position in TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock valued at $1,180,576,000 after purchasing an additional 1,623,864 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in 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 buying an additional 773,000 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in TechnipFMC by 184.0% in the 4th 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. Finally, Franklin Resources Inc. raised its stake 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 worth $98,838,000 after purchasing an additional 679,748 shares during the period. Institutional investors own 96.58% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays boosted their price target on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Evercore ISI increased their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Piper Sandler lifted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group started coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a "buy" rating and a $38.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.31.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded up $3.05 during midday trading on Wednesday, hitting $26.23. The company had a trading volume of 9,997,807 shares, compared to its average volume of 3,924,132. 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 plc has a 12-month low of $22.12 and a 12-month high of $33.45. The stock has a market cap of $11.03 billion, a price-to-earnings ratio of 17.25 and a beta of 1.11. The company has a fifty day simple moving average of $28.80 and a 200 day simple moving average of $29.01.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, March 18th. TechnipFMC's dividend payout ratio is currently 10.42%.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the sale, the director now directly owns 100,951 shares in the company, valued at approximately $3,004,301.76. The trade was a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,706 shares of company stock worth $1,651,665 in the last three months. Company insiders own 1.80% of the company's stock.

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.