TechnipFMC plc (NYSE:FTI) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in TechnipFMC plc (NYSE:FTI - Free Report) by 233.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,083,500 shares of the oil and gas company's stock after acquiring an additional 758,400 shares during the period. Renaissance Technologies LLC owned 0.25% of TechnipFMC worth $31,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in TechnipFMC during the 4th quarter worth $96,808,000. Vanguard Group Inc. boosted its position in 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. Massachusetts Financial Services Co. MA grew its stake in TechnipFMC by 15.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock valued at $282,150,000 after acquiring an additional 1,319,015 shares in the last quarter. Bank of Nova Scotia acquired a new stake in TechnipFMC in the 4th quarter valued at about $22,784,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake 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 worth $66,842,000 after purchasing an additional 773,000 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FTI. Evercore ISI upped their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Barclays raised their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, March 3rd. Susquehanna decreased their target price on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday. Piper Sandler increased their price target 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. Finally, StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Two 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.15.

Insider Activity at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of TechnipFMC 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 transaction, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David Light sold 10,147 shares of the firm's stock in a transaction on 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 $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. Over the last quarter, insiders sold 61,706 shares of company stock worth $1,651,665. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Trading Down 1.2 %

Shares of NYSE FTI traded down $0.31 during trading on Tuesday, reaching $25.06. The stock had a trading volume of 3,636,906 shares, compared to its average volume of 3,915,871. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The company has a market cap of $10.54 billion, a P/E ratio of 16.49 and a beta of 1.11. TechnipFMC plc has a fifty-two week low of $22.12 and a fifty-two week high of $33.45. The business's 50-day moving average price is $28.43 and its 200-day moving average price is $29.00.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.80%. TechnipFMC's dividend payout ratio is presently 10.42%.

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.