3,345,145 Shares in TechnipFMC plc (NYSE:FTI) Purchased by Norges Bank

Norges Bank purchased a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,345,145 shares of the oil and gas company's stock, valued at approximately $96,808,000. Norges Bank owned 0.79% of TechnipFMC as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of TechnipFMC in the fourth quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of TechnipFMC during the fourth quarter worth $46,000. EverSource Wealth Advisors LLC raised its stake in shares of TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 563 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Barclays lifted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, March 3rd. StockNews.com downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Piper Sandler lifted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group started coverage on TechnipFMC in a report on Friday, December 13th. They issued a "buy" rating and a $38.00 target price on the stock. Two 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.31.

Insiders Place Their Bets

In related news, CAO David Light sold 10,147 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the sale, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the company'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 transaction, the director now owns 100,951 shares in the company, valued at $3,004,301.76. The trade was a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is owned by insiders.

TechnipFMC Stock Performance

NYSE FTI traded down $4.39 on Friday, reaching $25.10. The stock had a trading volume of 7,681,277 shares, compared to its average volume of 3,886,459. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock has a market cap of $10.56 billion, a P/E ratio of 16.52 and a beta of 1.11. The business's 50-day moving average price is $29.38 and its 200 day moving average price is $29.13. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45.

TechnipFMC Announces Dividend

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

TechnipFMC Company 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.