Driehaus Capital Management LLC Has $48.83 Million Stake in TechnipFMC plc (NYSE:FTI)

Driehaus Capital Management LLC increased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 19.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,687,435 shares of the oil and gas company's stock after acquiring an additional 275,709 shares during the quarter. Driehaus Capital Management LLC owned 0.40% of TechnipFMC worth $48,834,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FTI. Smartleaf Asset Management LLC grew its holdings 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 buying an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of TechnipFMC during the fourth quarter valued at $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC during the fourth quarter valued at $46,000. EverSource Wealth Advisors LLC grew its holdings in shares of TechnipFMC by 393.5% during 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 buying an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of TechnipFMC by 48.2% during 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 buying an additional 563 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FTI shares. Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. StockNews.com downgraded TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Royal Bank of Canada reissued an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Monday, April 28th. Barclays lifted their price objective on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Susquehanna reduced their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.83.

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the sale, the chief accounting officer now owns 7,529 shares of the company's stock, valued at $187,472.10. This trade represents a 57.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,706 shares of company stock valued at $1,651,665 in the last quarter. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Stock Performance

NYSE:FTI traded up $0.70 during mid-day trading on Tuesday, hitting $31.45. 1,359,688 shares of the company's stock traded hands, compared to its average volume of 3,987,398. The firm has a 50 day moving average of $27.68 and a two-hundred day moving average of $29.15. TechnipFMC plc has a 12 month low of $22.12 and a 12 month high of $33.45. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 20.69 and a beta of 0.98. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company earned $0.22 earnings per share. TechnipFMC's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.64%. TechnipFMC's dividend payout ratio (DPR) is 10.53%.

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.