Taika Capital LP purchased a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 26,710 shares of the oil and gas company's stock, valued at approximately $773,000.
A number of other institutional investors also recently modified their holdings of FTI. Pacer Advisors Inc. bought a new position in shares of TechnipFMC in the third quarter valued at approximately $185,643,000. Westfield Capital Management Co. LP bought a new position in TechnipFMC during the third quarter worth $49,273,000. Jennison Associates LLC increased its position in TechnipFMC by 95.0% during the third quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company's stock worth $61,918,000 after acquiring an additional 1,150,049 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in TechnipFMC by 50.3% during the fourth 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 acquiring an additional 773,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in TechnipFMC by 68.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company's stock worth $44,454,000 after acquiring an additional 688,622 shares during the period. Institutional investors own 96.58% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on FTI shares. Evercore ISI boosted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Barclays boosted their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and boosted their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. TD Cowen reiterated a "buy" rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada began coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an "outperform" rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $36.31.
View Our Latest Report on FTI
TechnipFMC Price Performance
Shares of NYSE:FTI traded up $0.06 on Thursday, hitting $26.44. The stock had a trading volume of 6,087,478 shares, compared to its average volume of 3,785,611. The firm's 50 day moving average price is $30.21 and its 200-day moving average price is $28.60. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 17.40 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a twelve month low of $22.33 and a twelve month high of $33.45.
TechnipFMC Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.76%. TechnipFMC's dividend payout ratio (DPR) is 10.42%.
About TechnipFMC
(
Free Report)
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.
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