Vestcor Inc Purchases New Holdings in TechnipFMC plc (NYSE:FTI)

Vestcor Inc acquired a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 30,000 shares of the oil and gas company's stock, valued at approximately $868,000.

A number of other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. acquired a new stake 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 in the 3rd quarter valued at $49,273,000. Jennison Associates LLC raised its position in shares of 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 last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of 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 last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of 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 valued at $44,454,000 after acquiring an additional 688,622 shares during the period. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Up 2.5 %

Shares of FTI traded up $0.69 on Wednesday, hitting $28.80. The company's stock had a trading volume of 5,602,747 shares, compared to its average volume of 3,724,668. The firm's fifty day moving average price is $29.92 and its 200-day moving average price is $28.63. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. 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 firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 18.95 and a beta of 1.54.

Remove Ads

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC's dividend payout ratio is 10.42%.

Insider Transactions at TechnipFMC

In other news, EVP Justin Rounce sold 42,178 shares of the firm's 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 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 trade represents a 23.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was 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 directly owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. 1.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FTI has been the subject of several recent research reports. TD Cowen reissued a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and boosted their price target for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a "buy" rating and a $38.00 target price for the company. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. Finally, Barclays lifted their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $36.31.

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.