Pictet Asset Management Holding SA Raises Stock Position in TechnipFMC plc (NYSE:FTI)

Pictet Asset Management Holding SA raised its stake in shares of TechnipFMC plc (NYSE:FTI) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,575 shares of the oil and gas company’s stock after purchasing an additional 7,830 shares during the period. Pictet Asset Management Holding SA’s holdings in TechnipFMC were worth $1,840,000 at the end of the most recent quarter.

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

TechnipFMC Stock Performance

NYSE FTI opened at $25.10 on Friday. The stock has a fifty day simple moving average of $29.38 and a 200-day simple moving average of $29.08. 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 has a market cap of $10.56 billion, a PE ratio of 16.52 and a beta of 1.11. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Evercore ISI upped 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 raised their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Piper Sandler upped their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $36.31.

Insider Activity

In other news, 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 value of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The stock was 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 in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,706 shares of company stock valued at $1,651,665. Company insiders own 1.80% of the company’s stock.

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.