Townsquare Capital LLC Grows Position in TechnipFMC plc (NYSE:FTI)

Townsquare Capital LLC grew its stake in TechnipFMC plc (NYSE:FTI) by 1.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 219,014 shares of the oil and gas company’s stock after buying an additional 3,197 shares during the period. Townsquare Capital LLC’s holdings in TechnipFMC were worth $6,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. raised its stake in 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 acquiring an additional 679,748 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of 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 worth $634,000 after purchasing an additional 4,314 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of TechnipFMC during the fourth quarter worth about $519,000. Raymond James Financial Inc. purchased a new stake in TechnipFMC in the fourth quarter valued at approximately $9,152,000. Finally, 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 buying an additional 249,719 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Up 3.5 %

Shares of FTI stock opened at $25.00 on Monday. The stock has a 50 day simple moving average of $28.55 and a 200-day simple moving average of $29.00. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 16.44 and a beta of 1.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.80%. TechnipFMC’s dividend payout ratio (DPR) is 10.42%.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 10,147 shares of the company’s 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 owns 7,529 shares of the company’s stock, valued at $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on FTI shares. Piper Sandler lifted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Evercore ISI upped their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, Barclays boosted their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.31.

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.