Jennison Associates LLC Purchases 782,290 Shares of TechnipFMC plc (NYSE:FTI)

Jennison Associates LLC increased its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 44.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,528,059 shares of the oil and gas company's stock after buying an additional 782,290 shares during the quarter. Jennison Associates LLC owned about 0.58% of TechnipFMC worth $50,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Calamos Wealth Management LLC lifted its position in TechnipFMC by 5.6% during the fourth quarter. Calamos Wealth Management LLC now owns 62,653 shares of the oil and gas company's stock worth $1,262,000 after buying an additional 3,298 shares during the period. Xponance Inc. lifted its position in TechnipFMC by 8.5% during the fourth quarter. Xponance Inc. now owns 37,595 shares of the oil and gas company's stock worth $757,000 after buying an additional 2,957 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in TechnipFMC by 8.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,533 shares of the oil and gas company's stock worth $1,955,000 after buying an additional 7,704 shares during the period. Cookson Peirce & Co. Inc. increased its stake in TechnipFMC by 320.2% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 56,616 shares of the oil and gas company's stock worth $1,140,000 after acquiring an additional 43,142 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in TechnipFMC during the fourth quarter worth about $6,836,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on FTI. HSBC lowered TechnipFMC from a "buy" rating to a "hold" rating and set a $23.60 price target for the company. in a research note on Friday, February 23rd. TD Cowen upped their price target on TechnipFMC from $26.00 to $28.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. Barclays upped their price target on TechnipFMC from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 27th. Bank of America increased their target price on TechnipFMC from $24.00 to $28.50 and gave the company a "buy" rating in a research note on Monday, April 15th. Finally, Benchmark reiterated a "buy" rating and issued a $30.00 target price (up previously from $25.00) on shares of TechnipFMC in a research note on Monday, April 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, TechnipFMC presently has a consensus rating of "Moderate Buy" and an average target price of $25.34.

TechnipFMC Stock Performance

FTI traded down $0.13 during trading hours on Wednesday, hitting $25.71. The company's stock had a trading volume of 4,702,755 shares, compared to its average volume of 4,688,639. TechnipFMC plc has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $11.24 billion, a PE ratio of 214.27 and a beta of 1.65. The company has a 50-day simple moving average of $23.93 and a 200 day simple moving average of $21.46.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $1.90 billion. During the same period last year, the firm earned ($0.05) EPS. The firm's revenue was up 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that TechnipFMC plc will post 1.15 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC's dividend payout ratio is currently 166.68%.

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.