iA Global Asset Management Inc. Buys Shares of 7,391 TechnipFMC plc (NYSE:FTI)

iA Global Asset Management Inc. purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,391 shares of the oil and gas company’s stock, valued at approximately $214,000.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of TechnipFMC by 1.7% during the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after buying an additional 133,775 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $105,618,000 after buying an additional 249,719 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of TechnipFMC by 10.4% during the fourth quarter. Van ECK Associates Corp now owns 2,987,606 shares of the oil and gas company’s stock valued at $86,461,000 after buying an additional 281,665 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings 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 valued at $66,842,000 after buying an additional 773,000 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.

TechnipFMC Trading Up 0.1 %

TechnipFMC stock opened at $29.31 on Friday. The firm has a 50 day moving average of $29.74 and a 200 day moving average of $28.68. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 19.28 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 company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FTI shares. 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 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. Barclays raised their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Finally, Evercore ISI raised their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. One 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 stock. According to MarketBeat, TechnipFMC presently has an average rating of “Buy” and a consensus 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.