SCP Investment LP Raises Position in TechnipFMC plc (NYSE:FTI)

SCP Investment LP lifted its stake in shares of TechnipFMC plc (NYSE:FTI) by 272.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,800 shares of the oil and gas company’s stock after buying an additional 24,000 shares during the period. TechnipFMC comprises about 0.7% of SCP Investment LP’s holdings, making the stock its 18th largest position. SCP Investment LP’s holdings in TechnipFMC were worth $949,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after buying an additional 1,623,864 shares during the last quarter. State Street Corp grew its stake in TechnipFMC by 1.7% in the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after purchasing an additional 133,775 shares during the period. American Century Companies Inc. increased its position in shares of TechnipFMC by 1.2% during the 4th quarter. American Century Companies Inc. now owns 3,869,442 shares of the oil and gas company’s stock valued at $111,982,000 after purchasing an additional 46,224 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of TechnipFMC by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after purchasing an additional 249,719 shares during the last quarter. Finally, Franklin Resources Inc. boosted 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 worth $98,838,000 after buying an additional 679,748 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of research analyst reports. StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 price target for the company. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and increased their price objective for the company from $29.00 to $40.00 in a report on Friday, December 6th. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Finally, Barclays increased their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. 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 stock. According to data from MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.31.

TechnipFMC Price Performance

FTI stock opened at $31.18 on Friday. The firm has a 50 day moving average of $29.56 and a 200-day moving average of $28.90. The firm has a market capitalization of $13.11 billion, a P/E ratio of 20.51 and a beta of 1.54. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. 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 Dividend Announcement

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 dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is currently 10.42%.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction on Tuesday, March 11th. The shares were 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. The trade was a 57.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the transaction, the director now directly owns 100,951 shares in the company, valued at approximately $3,004,301.76. This represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is currently owned by company insiders.

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.