Norges Bank Invests $96.81 Million in TechnipFMC plc (NYSE:FTI)

Norges Bank acquired a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,345,145 shares of the oil and gas company's stock, valued at approximately $96,808,000. Norges Bank owned about 0.79% of TechnipFMC at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of TechnipFMC by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after acquiring an additional 1,623,864 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in TechnipFMC by 50.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company's stock worth $66,842,000 after purchasing an additional 773,000 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in TechnipFMC by 68.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company's stock valued at $44,454,000 after purchasing an additional 688,622 shares during the period. Franklin Resources Inc. boosted its stake 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 valued at $98,838,000 after purchasing an additional 679,748 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its position in shares of TechnipFMC by 1,944.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 386,427 shares of the oil and gas company's stock worth $11,183,000 after buying an additional 367,522 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

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Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares of the company's stock, valued at $3,004,301.76. The trade was a 8.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Justin Rounce sold 42,178 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the transaction, the executive vice president now owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 over the last three months. Company insiders own 1.80% of the company's stock.

TechnipFMC Stock Down 9.5 %

FTI traded down $3.12 during trading on Thursday, reaching $29.51. The company had a trading volume of 8,724,162 shares, compared to its average volume of 3,872,202. The business's fifty day moving average price is $29.50 and its 200 day moving average price is $29.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The company has a market cap of $12.41 billion, a P/E ratio of 19.41 and a beta of 1.54.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a $0.05 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.68%. TechnipFMC's dividend payout ratio (DPR) is 10.42%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FTI. Piper Sandler raised their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Jefferies Financial Group upgraded TechnipFMC from a "hold" rating to a "buy" rating and raised their price target for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. StockNews.com downgraded TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays raised their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Finally, Evercore ISI upped their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus target price of $36.31.

TechnipFMC Company 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.