Sciencast Management LP Raises Stake in TechnipFMC plc (NYSE:FTI)

Sciencast Management LP increased its stake in TechnipFMC plc (NYSE:FTI) by 501.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 101,552 shares of the oil and gas company’s stock after acquiring an additional 84,661 shares during the quarter. Sciencast Management LP’s holdings in TechnipFMC were worth $2,939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in TechnipFMC by 55.2% in 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 in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of TechnipFMC in the 4th quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in TechnipFMC during the fourth quarter worth $46,000. EverSource Wealth Advisors LLC boosted its position in TechnipFMC by 393.5% during the fourth 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 holdings in TechnipFMC by 48.2% in the fourth 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. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TD Cowen reaffirmed a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Barclays lifted 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. Piper Sandler increased their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Finally, Evercore ISI increased their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $36.31.

TechnipFMC Stock Up 0.1 %

Shares of NYSE:FTI opened at $29.31 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm has a market cap of $12.33 billion, a price-to-earnings ratio of 19.28 and a beta of 1.54. The stock’s 50-day moving average price is $29.74 and its two-hundred day moving average price is $28.66. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. TechnipFMC’s dividend payout ratio is presently 10.42%.

Insider Activity at TechnipFMC

In related news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares of the company’s stock, valued at $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.06% of the stock is owned by insiders.

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.