Baird Financial Group Inc. Purchases 63,009 Shares of TechnipFMC plc (NYSE:FTI)

Baird Financial Group Inc. raised its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 92.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,376 shares of the oil and gas company's stock after purchasing an additional 63,009 shares during the period. Baird Financial Group Inc.'s holdings in TechnipFMC were worth $3,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in TechnipFMC by 31.5% during the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after acquiring an additional 3,962,315 shares in the last quarter. Norges Bank purchased a new stake in shares of TechnipFMC in the 4th quarter worth approximately $96,808,000. Anomaly Capital Management LP lifted its position in shares of TechnipFMC by 46.5% in the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after purchasing an additional 2,306,342 shares during the period. AQR Capital Management LLC increased its holdings in TechnipFMC by 70.6% during the fourth quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company's stock valued at $119,602,000 after buying an additional 1,710,183 shares during the period. Finally, Vanguard Group Inc. raised its stake 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 worth $1,180,576,000 after buying an additional 1,623,864 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI stock opened at $29.90 on Friday. The business has a fifty day moving average of $27.60 and a 200 day moving average of $29.10. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $33.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 19.67 and a beta of 0.98.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business earned $0.22 earnings per share. As a group, research analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

Insider Activity

In other news, CAO David Light sold 10,147 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares of the company's stock, valued at $187,472.10. The trade was a 57.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock valued at $1,651,665 in the last ninety days. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FTI shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Evercore ISI lifted 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. Susquehanna reduced their target price on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a report on Monday, April 14th. Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $36.83.

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.

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