Brokerages Set TechnipFMC plc (NYSE:FTI) PT at $36.31

Shares of TechnipFMC plc (NYSE:FTI) have been assigned an average rating of “Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $36.31.

A number of brokerages have recently issued reports on FTI. Jefferies Financial Group raised shares of 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. Piper Sandler lifted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Evercore ISI lifted their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada initiated coverage on shares of TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price for the company.

TechnipFMC Trading Up 2.8 %

NYSE FTI opened at $27.25 on Thursday. The company’s 50-day simple moving average is $30.07 and its two-hundred day simple moving average is $28.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC has a one year low of $22.99 and a one year high of $33.45. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 17.92 and a beta of 1.54.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Insider Buying and Selling at TechnipFMC

In related news, 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 value of $252,660.30. Following the completion of the transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. The trade was a 57.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $1,119,825.90. Following the completion of the transaction, the executive vice president now owns 140,207 shares of the company’s stock, valued at approximately $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. Company insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in TechnipFMC by 23.0% in 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 acquiring an additional 679,748 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in TechnipFMC in the 4th quarter worth $519,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in TechnipFMC by 971.5% in 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 acquiring an additional 369,594 shares in the last quarter. ING Groep NV increased its holdings in TechnipFMC by 15.3% in the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after acquiring an additional 114,600 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in TechnipFMC in the 3rd quarter worth $49,273,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.