TechnipFMC plc (NYSE:FTI) Given Consensus Rating of “Buy” by Analysts

TechnipFMC plc (NYSE:FTI) has earned a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $36.31.

Several analysts recently issued reports on FTI shares. Piper Sandler increased 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. TD Cowen restated a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. The Goldman Sachs Group started coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price target for the company. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the company from $29.00 to $40.00 in a report on Friday, December 6th. Finally, Evercore ISI raised 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 Stock Performance

NYSE:FTI opened at $28.80 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC has a 12-month low of $22.99 and a 12-month high of $33.45. The stock has a 50-day moving average price of $29.85 and a 200 day moving average price of $28.63. The stock has a market capitalization of $12.11 billion, a P/E ratio of 18.95 and a beta of 1.54.

TechnipFMC Announces Dividend

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 paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Insider Activity

In related news, CAO David Light sold 10,147 shares of the firm’s stock in a transaction that occurred on 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 directly owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after acquiring an additional 679,748 shares during the last quarter. Park Avenue Securities LLC bought a new stake in TechnipFMC during the 4th quarter valued at $519,000. Sumitomo Mitsui Trust Group Inc. raised its position in TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after purchasing an additional 369,594 shares in the last quarter. ING Groep NV raised its position in TechnipFMC by 15.3% during the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock valued at $22,697,000 after purchasing an additional 114,600 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in TechnipFMC during the 3rd quarter valued at $49,273,000. 96.58% of the stock is owned by institutional investors.

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.