Teacher Retirement System of Texas Has $7.93 Million Holdings in TechnipFMC plc (NYSE:FTI)

Teacher Retirement System of Texas increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 35.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 273,853 shares of the oil and gas company’s stock after acquiring an additional 71,168 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.06% of TechnipFMC worth $7,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted 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 worth $43,000 after acquiring an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in TechnipFMC during the fourth quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC during the fourth quarter worth $46,000. EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 563 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FTI shares. TD Cowen reissued a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research note on Wednesday, November 27th. Evercore ISI raised their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. Barclays raised their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and raised their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. One research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $36.31.

TechnipFMC Stock Up 0.1 %

FTI opened at $29.31 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The company’s 50-day moving average is $29.74 and its 200 day moving average is $28.68. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The firm has a market capitalization of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54.

TechnipFMC Announces Dividend

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

Insider Buying and Selling

In related news, CAO David Light sold 10,147 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now 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 disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate 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.