Emerald Advisers LLC Increases Holdings in TechnipFMC plc (NYSE:FTI)

Emerald Advisers LLC increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 306.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 51,214 shares of the oil and gas company’s stock after acquiring an additional 38,624 shares during the quarter. Emerald Advisers LLC’s holdings in TechnipFMC were worth $1,482,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FTI. Westfield Capital Management Co. LP purchased a new stake in TechnipFMC in the third quarter valued at $49,273,000. Vanguard Group Inc. raised its position in TechnipFMC by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock valued at $1,180,576,000 after purchasing an additional 1,623,864 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in TechnipFMC by 50.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock valued at $66,842,000 after purchasing an additional 773,000 shares during the period. Jacobs Levy Equity Management Inc. raised its position in TechnipFMC by 68.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock valued at $44,454,000 after purchasing an additional 688,622 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FTI shares. The Goldman Sachs Group initiated coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. TD Cowen reissued a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Barclays boosted their target price on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Finally, Piper Sandler upped their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. One research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $36.31.

TechnipFMC Stock Performance

Shares of FTI stock opened at $29.31 on Monday. The business has a 50 day moving average of $29.74 and a two-hundred day moving average of $28.70. The company has a market cap of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54. 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 $22.99 and a 52 week high of $33.45.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.68%. TechnipFMC’s payout ratio is 10.42%.

Insider Buying and Selling

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David Light sold 10,147 shares of TechnipFMC 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 transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.06% of the stock is owned by corporate insiders.

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.