Teacher Retirement System of Texas Boosts Stock Holdings in TechnipFMC plc (NYSE:FTI)

Teacher Retirement System of Texas raised its holdings in TechnipFMC plc (NYSE:FTI) by 35.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,853 shares of the oil and gas company’s stock after purchasing an additional 71,168 shares during the period. Teacher Retirement System of Texas’ holdings in TechnipFMC were worth $7,925,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FTI. Westfield Capital Management Co. LP purchased a new position in TechnipFMC during the third quarter valued at approximately $49,273,000. Vaughan Nelson Investment Management L.P. grew its stake in 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 acquiring an additional 773,000 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in TechnipFMC by 68.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock valued at $44,454,000 after acquiring an additional 688,622 shares in the last quarter. Franklin Resources Inc. grew its stake in 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 acquiring an additional 679,748 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in TechnipFMC by 121.3% during the third quarter. Cerity Partners LLC now owns 908,936 shares of the oil and gas company’s stock valued at $23,841,000 after acquiring an additional 498,137 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.1 %

Shares of FTI opened at $29.31 on Friday. The firm has a market cap of $12.33 billion, a price-to-earnings ratio of 19.28 and a beta of 1.54. 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 plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The firm has a 50 day moving average price of $29.74 and a 200-day moving average price of $28.68.

TechnipFMC Dividend Announcement

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

Insider Transactions at TechnipFMC

In related news, CAO David Light sold 10,147 shares of TechnipFMC 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 transaction, the chief accounting officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. The trade was 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.

Analyst Ratings Changes

Several equities analysts recently commented on FTI shares. Evercore ISI boosted 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. Barclays boosted 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. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and lifted their target price for the company from $29.00 to $40.00 in a research report on Friday, December 6th. TD Cowen reiterated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, The Goldman Sachs Group started coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average 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.