TechnipFMC plc (NYSE:FTI) Receives $36.31 Average Price Target from Brokerages

TechnipFMC plc (NYSE:FTI - Get Free Report) has been assigned an average rating of "Buy" from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $36.31.

A number of research analysts have weighed in on the company. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a "buy" rating and a $38.00 price objective on the stock. Barclays boosted their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Finally, Piper Sandler upped their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th.

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TechnipFMC Trading Up 3.5 %

Shares of FTI traded up $0.86 on Monday, hitting $25.00. 5,046,953 shares of the stock traded hands, compared to its average volume of 3,925,378. TechnipFMC has a 1 year low of $22.12 and a 1 year high of $33.45. The stock's 50 day moving average is $28.55 and its two-hundred day moving average is $28.98. The firm has a market capitalization of $10.51 billion, a P/E ratio of 16.44 and a beta of 1.11. 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 Announces Dividend

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

Insider Activity

In other TechnipFMC 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 value of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,119,825.90. Following the sale, the executive vice president now 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 quarter, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TechnipFMC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after acquiring an additional 679,748 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings 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 worth $634,000 after purchasing an additional 4,314 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of TechnipFMC in the 4th quarter valued at approximately $519,000. Raymond James Financial Inc. purchased a new position in shares of TechnipFMC during the 4th quarter valued at approximately $9,152,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of TechnipFMC by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock worth $105,618,000 after buying an additional 249,719 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.