Raymond James Financial Inc. Invests $9.15 Million in TechnipFMC plc (NYSE:FTI)

Raymond James Financial Inc. acquired a new position in TechnipFMC plc (NYSE:FTI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 316,224 shares of the oil and gas company's stock, valued at approximately $9,152,000. Raymond James Financial Inc. owned about 0.07% of TechnipFMC at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in TechnipFMC during the fourth quarter valued at $45,000. V Square Quantitative Management LLC raised its stake in shares of TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after acquiring an additional 563 shares during the period. True Wealth Design LLC purchased a new stake in TechnipFMC in the 3rd quarter worth about $57,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in TechnipFMC by 106.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,031 shares of the oil and gas company's stock valued at $59,000 after acquiring an additional 1,047 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FTI. Piper Sandler upped their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and lifted their target price for the company from $29.00 to $40.00 in a research report on Friday, December 6th. TD Cowen restated a "buy" rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Evercore ISI upped their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group began coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 target price on the stock. One 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 stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $36.31.

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TechnipFMC Stock Performance

Shares of TechnipFMC stock traded up $0.54 during midday trading on Tuesday, hitting $30.38. The company had a trading volume of 3,626,356 shares, compared to its average volume of 3,756,314. The company has a fifty day simple moving average of $29.69 and a 200 day simple moving average of $28.73. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of 19.99 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 plc has a 12-month low of $22.99 and a 12-month high of $33.45.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid 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 0.66%. TechnipFMC's dividend payout ratio (DPR) is 10.42%.

Insider Buying and Selling

In related news, EVP Justin Rounce sold 42,178 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. 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.