TechnipFMC plc (NYSE:FTI) Receives Consensus Rating of “Buy” from Brokerages

Shares of TechnipFMC plc (NYSE:FTI) have been given an average rating of “Buy” by the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $36.31.

FTI has been the topic of a number of research reports. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and raised their target price for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Piper Sandler raised their target price 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. Barclays raised their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. TD Cowen reissued a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Evercore ISI raised their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th.

TechnipFMC Trading Up 3.8 %

Shares of FTI opened at $28.27 on Thursday. TechnipFMC has a 1-year low of $22.99 and a 1-year high of $33.45. The company has a 50-day moving average of $30.00 and a 200 day moving average of $28.62. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 18.60 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 yield of 0.71%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is presently 10.42%.

Insider Buying and Selling at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were 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. The trade was a 23.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO David Light sold 10,147 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

Several large investors have recently made changes to their positions in FTI. Farther Finance Advisors LLC lifted its stake in shares of TechnipFMC by 414.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,089 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 2,489 shares during the period. Assetmark Inc. purchased a new stake in TechnipFMC in the 3rd quarter worth $265,000. Sigma Planning Corp increased its holdings in TechnipFMC by 32.6% in the 3rd quarter. Sigma Planning Corp now owns 11,164 shares of the oil and gas company’s stock worth $293,000 after acquiring an additional 2,743 shares in the last quarter. Versor Investments LP purchased a new stake in TechnipFMC in the 3rd quarter worth $304,000. Finally, Entropy Technologies LP purchased a new stake in TechnipFMC in the 3rd quarter worth $575,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.