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

Shares of TechnipFMC plc (NYSE:FTI) have earned an average rating of “Buy” from the fourteen analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective 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. TD Cowen reiterated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. The Goldman Sachs Group began coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Barclays lifted their price target on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Finally, Evercore ISI lifted their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th.

TechnipFMC Trading Up 2.5 %

Shares of NYSE FTI opened at $28.80 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $29.85 and a two-hundred day simple moving average of $28.63. The firm has a market cap of $12.11 billion, a PE ratio of 18.95 and a beta of 1.54. TechnipFMC has a twelve month low of $22.99 and a twelve month high of $33.45.

TechnipFMC Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. TechnipFMC’s dividend payout ratio is currently 10.42%.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Justin Rounce sold 42,178 shares of the business’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 completion of the transaction, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TechnipFMC

Several institutional investors and hedge funds have recently modified their holdings of the stock. 111 Capital acquired a new position in shares of TechnipFMC in the 4th quarter valued at about $549,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TechnipFMC by 116.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 81,154 shares of the oil and gas company’s stock valued at $2,349,000 after buying an additional 43,714 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of TechnipFMC in the 4th quarter valued at about $12,399,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of TechnipFMC in the 4th quarter valued at about $12,235,000. Finally, Mackenzie Financial Corp raised its holdings in TechnipFMC by 0.3% in the 4th quarter. Mackenzie Financial Corp now owns 520,513 shares of the oil and gas company’s stock worth $15,064,000 after purchasing an additional 1,652 shares during the period. Institutional investors and hedge funds 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.