Pictet Asset Management Holding SA Boosts Stock Holdings in TechnipFMC plc (NYSE:FTI)

Pictet Asset Management Holding SA lifted its stake in TechnipFMC plc (NYSE:FTI) by 14.0% in the fourth quarter, HoldingsChannel reports. The firm owned 63,575 shares of the oil and gas company’s stock after acquiring an additional 7,830 shares during the quarter. Pictet Asset Management Holding SA’s holdings in TechnipFMC were worth $1,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its position in shares of TechnipFMC by 55.2% in 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 purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of TechnipFMC during the fourth quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in TechnipFMC in the fourth quarter valued at $46,000. EverSource Wealth Advisors LLC raised its stake in TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after buying an additional 563 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FTI. Barclays increased their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Evercore ISI increased their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Finally, Piper Sandler lifted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $36.31.

Insider Transactions at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction on Wednesday, March 12th. The stock was 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 owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now owns 100,951 shares in the company, valued at $3,004,301.76. The trade was a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,706 shares of company stock worth $1,651,665. Company insiders own 1.80% of the company’s stock.

TechnipFMC Trading Down 14.9 %

NYSE:FTI opened at $25.10 on Friday. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $29.38 and its 200-day simple moving average is $29.08. The firm has a market cap of $10.56 billion, a P/E ratio of 16.52 and a beta of 1.11.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.80%. TechnipFMC’s payout ratio is currently 10.42%.

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.