TechnipFMC plc (NYSE:FTI) Shares Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. increased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 92.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 131,376 shares of the oil and gas company’s stock after buying an additional 63,009 shares during the period. Baird Financial Group Inc.’s holdings in TechnipFMC were worth $3,802,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FTI. Avantax Advisory Services Inc. grew its holdings in TechnipFMC by 24.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock valued at $634,000 after purchasing an additional 4,314 shares during the period. Park Avenue Securities LLC purchased a new position in shares of TechnipFMC during the 4th quarter valued at approximately $519,000. Raymond James Financial Inc. acquired a new stake in TechnipFMC in the 4th quarter valued at $9,152,000. Charles Schwab Investment Management Inc. increased its holdings in TechnipFMC by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock worth $105,618,000 after acquiring an additional 249,719 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in TechnipFMC by 1,024.4% during the fourth quarter. Jones Financial Companies Lllp now owns 14,347 shares of the oil and gas company’s stock worth $415,000 after acquiring an additional 13,071 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

TechnipFMC stock opened at $29.90 on Friday. The company’s 50 day moving average is $27.60 and its two-hundred day moving average is $29.10. The firm has a market cap of $12.53 billion, a PE ratio of 19.67 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $33.45.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, research analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.67%. TechnipFMC’s dividend payout ratio (DPR) is 10.53%.

Insider Buying and Selling

In other news, CAO David Light sold 10,147 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the director now owns 100,951 shares of the company’s stock, valued at approximately $3,004,301.76. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock worth $1,651,665 over the last 90 days. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on FTI shares. Piper Sandler lifted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Susquehanna cut their price objective on TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Monday, April 28th. Barclays boosted their price target on TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, 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. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

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.