Machina Capital S.A.S. Takes Position in TechnipFMC plc (NYSE:FTI)

Machina Capital S.A.S. bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 7,301 shares of the oil and gas company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FTI. Pacer Advisors Inc. bought a new position in TechnipFMC in the 3rd quarter worth approximately $185,643,000. Westfield Capital Management Co. LP bought a new position in TechnipFMC in the 3rd quarter worth approximately $49,273,000. Jennison Associates LLC grew its holdings in TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock worth $61,918,000 after buying an additional 1,150,049 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in TechnipFMC by 50.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock worth $66,842,000 after buying an additional 773,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in TechnipFMC by 68.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock worth $44,454,000 after buying an additional 688,622 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FTI shares. Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective for the company. The Goldman Sachs Group initiated coverage on TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price for the company. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and upped their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Piper Sandler upped their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Evercore ISI upped their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $36.31.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $26.71 on Monday. TechnipFMC plc has a one year low of $21.78 and a one year high of $33.45. The stock has a fifty day moving average of $30.40 and a 200-day moving average of $28.63. The company has a market capitalization of $11.23 billion, a PE ratio of 17.57 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

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.