New York Life Investment Management LLC Has $1.31 Million Stake in TechnipFMC plc (NYSE:FTI)

New York Life Investment Management LLC reduced its stake in TechnipFMC plc (NYSE:FTI) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,207 shares of the oil and gas company’s stock after selling 4,248 shares during the period. New York Life Investment Management LLC’s holdings in TechnipFMC were worth $1,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of TechnipFMC by 11.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,454,101 shares of the oil and gas company’s stock valued at $42,082,000 after purchasing an additional 152,161 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of TechnipFMC in the fourth quarter valued at $1,376,000. TCW Group Inc. boosted its position in shares of TechnipFMC by 72.8% in the fourth quarter. TCW Group Inc. now owns 398,622 shares of the oil and gas company’s stock valued at $11,536,000 after acquiring an additional 167,992 shares during the period. First Horizon Advisors Inc. boosted its position in shares of TechnipFMC by 352.0% in the fourth quarter. First Horizon Advisors Inc. now owns 4,027 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 3,136 shares during the period. Finally, Olympiad Research LP bought a new stake in shares of TechnipFMC in the fourth quarter valued at about $331,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Down 4.2 %

Shares of NYSE FTI opened at $28.19 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 18.55 and a beta of 1.52. TechnipFMC plc has a 12 month low of $21.36 and a 12 month high of $33.45. The stock has a 50-day moving average price of $30.60 and a two-hundred day moving average price of $28.62.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is currently 10.42%.

Analyst Ratings Changes

FTI has been the subject of a number of recent research reports. TD Cowen reissued a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their target price for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Citigroup boosted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Evercore ISI boosted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada began coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average 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.