Loomis Sayles & Co. L P Grows Stock Position in TechnipFMC plc (NYSE:FTI)

Loomis Sayles & Co. L P raised its holdings in TechnipFMC plc (NYSE:FTI) by 1,944.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 386,427 shares of the oil and gas company’s stock after buying an additional 367,522 shares during the quarter. Loomis Sayles & Co. L P’s holdings in TechnipFMC were worth $11,183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in TechnipFMC in the fourth quarter valued at approximately $46,000. Smartleaf Asset Management LLC grew its stake in shares of TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 525 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of TechnipFMC during the 4th quarter worth $45,000. EverSource Wealth Advisors LLC raised its position in shares of TechnipFMC by 393.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 563 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Down 0.2 %

NYSE:FTI opened at $31.18 on Friday. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 20.51 and a beta of 1.54. TechnipFMC plc has a one year low of $22.99 and a one year high of $33.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The business’s 50-day simple moving average is $29.56 and its 200 day simple moving average is $28.90.

TechnipFMC Dividend Announcement

The firm 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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Insider Activity

In other news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares of the company’s stock, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

FTI has been the subject of several research analyst reports. Barclays upped their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Evercore ISI raised their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Piper Sandler lifted their price target 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. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.31.

TechnipFMC 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.