Sciencast Management LP Grows Position in TechnipFMC plc (NYSE:FTI)

Sciencast Management LP raised its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 501.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,552 shares of the oil and gas company's stock after purchasing an additional 84,661 shares during the period. Sciencast Management LP's holdings in TechnipFMC were worth $2,939,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FTI. Smartleaf Asset Management LLC raised its stake in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock valued at $43,000 after buying an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of TechnipFMC in the 4th quarter worth about $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC in the 4th quarter worth about $46,000. EverSource Wealth Advisors LLC boosted its stake in TechnipFMC by 393.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after purchasing an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 563 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. 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 target on the stock. TD Cowen reiterated a "buy" rating and set a $37.00 target price on shares of TechnipFMC in a research note on Wednesday, November 27th. Piper Sandler boosted their price target on 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 upped their price target for the company from $29.00 to $40.00 in a report on Friday, December 6th. Finally, Barclays lifted their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TechnipFMC has an average rating of "Buy" and an average target price of $36.31.

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Insiders Place Their Bets

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was 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 of the company's stock, valued at $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,706 shares of company stock worth $1,651,665 over the last quarter. 1.06% of the stock is currently owned by corporate insiders.

TechnipFMC Stock Performance

Shares of FTI stock traded up $0.34 during mid-day trading on Wednesday, reaching $30.73. 4,363,539 shares of the company's stock traded hands, compared to its average volume of 3,758,970. 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 firm has a market capitalization of $12.92 billion, a PE ratio of 20.22 and a beta of 1.54. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The firm has a 50 day moving average price of $29.65 and a two-hundred day moving average price of $28.78.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.65%. The ex-dividend date is Tuesday, March 18th. 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.