Truist Financial Corp Buys 30,858 Shares of TechnipFMC plc (NYSE:FTI)

Truist Financial Corp increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 414.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 38,308 shares of the oil and gas company’s stock after acquiring an additional 30,858 shares during the quarter. Truist Financial Corp’s holdings in TechnipFMC were worth $1,109,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. boosted its holdings in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after buying an additional 679,748 shares during the period. Park Avenue Securities LLC bought a new stake in shares of TechnipFMC during the 4th quarter worth about $519,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after buying an additional 369,594 shares during the period. ING Groep NV boosted its holdings in shares of TechnipFMC by 15.3% during the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after buying an additional 114,600 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in shares of TechnipFMC during the 3rd quarter worth about $49,273,000. Institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Citigroup boosted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. TD Cowen reissued a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Royal Bank of Canada assumed coverage on shares of TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a hold rating, thirteen have given 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 price target of $36.23.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $29.42 on Friday. The firm has a 50 day moving average of $30.61 and a 200-day moving average of $28.58. The stock has a market capitalization of $12.52 billion, a PE ratio of 19.36 and a beta of 1.52. 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 plc has a 12 month low of $21.36 and a 12 month high of $33.45.

TechnipFMC Announces Dividend

The business also recently disclosed 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 yield of 0.68%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is 13.16%.

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.