Y Intercept Hong Kong Ltd Invests $1.38 Million in TechnipFMC plc (NYSE:FTI)

Y Intercept Hong Kong Ltd bought a new position in TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 47,546 shares of the oil and gas company’s stock, valued at approximately $1,376,000.

Several other institutional investors have also made changes to their positions in the company. Hardman Johnston Global Advisors LLC increased its position in shares of TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after acquiring an additional 1,071,103 shares in the last quarter. State Street Corp increased its position in shares of TechnipFMC by 1.7% in the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after acquiring an additional 133,775 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of TechnipFMC in the third quarter worth approximately $185,643,000. Franklin Resources Inc. boosted its holdings in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after purchasing an additional 679,748 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of TechnipFMC by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock worth $89,177,000 after purchasing an additional 219,081 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. Citigroup raised their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, October 29th. Finally, Evercore ISI raised their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $36.15.

TechnipFMC Trading Down 3.1 %

NYSE:FTI opened at $27.71 on Wednesday. TechnipFMC plc has a 12 month low of $21.28 and a 12 month high of $33.45. The firm has a market cap of $11.79 billion, a price-to-earnings ratio of 18.23 and a beta of 1.52. 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 company’s 50 day moving average is $30.62 and its 200-day moving average is $28.56.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. TechnipFMC’s dividend payout ratio is 13.16%.

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.