Sterling Capital Management LLC Boosts Stock Position in TechnipFMC plc (NYSE:FTI)

Sterling Capital Management LLC raised its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 29.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,769 shares of the oil and gas company's stock after acquiring an additional 17,639 shares during the quarter. Sterling Capital Management LLC's holdings in TechnipFMC were worth $2,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. grew its position in shares of TechnipFMC by 23.0% during the third 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. Avantax Advisory Services Inc. raised its position in TechnipFMC by 24.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock valued at $634,000 after purchasing an additional 4,314 shares in the last quarter. Park Avenue Securities LLC bought a new position in TechnipFMC during the 4th quarter worth about $519,000. Raymond James Financial Inc. bought a new position in shares of TechnipFMC during the fourth quarter valued at approximately $9,152,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 249,719 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI traded up $0.55 during mid-day trading on Friday, reaching $25.54. The company had a trading volume of 3,377,478 shares, compared to its average volume of 3,950,830. The stock has a 50 day moving average of $27.95 and a two-hundred day moving average of $28.93. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $10.74 billion, a P/E ratio of 16.80 and a beta of 1.11. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $33.45.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Tuesday, March 18th. TechnipFMC's dividend payout ratio (DPR) is 10.42%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FTI shares. Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Barclays lifted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Susquehanna decreased their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a report on Monday, April 14th. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Finally, StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Two equities research 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.15.

Insider Buying and Selling

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the company'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 transaction, the director now directly owns 100,951 shares of the company's stock, valued at $3,004,301.76. This represents 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 TechnipFMC 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 sale, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,706 shares of company stock valued at $1,651,665. Corporate insiders own 1.80% of the company's stock.

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.