TechnipFMC plc (NYSE:FTI) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in shares of TechnipFMC plc (NYSE:FTI) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 388,798 shares of the oil and gas company’s stock after purchasing an additional 8,488 shares during the period. State of New Jersey Common Pension Fund D’s holdings in TechnipFMC were worth $7,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. acquired a new position in shares of TechnipFMC in the 4th quarter valued at $37,976,000. Cerity Partners LLC acquired a new stake in shares of TechnipFMC during the fourth quarter worth about $6,836,000. SG Americas Securities LLC boosted its position in TechnipFMC by 71.1% in the fourth quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company’s stock valued at $3,072,000 after buying an additional 63,378 shares during the last quarter. Syntal Capital Partners LLC acquired a new position in TechnipFMC in the 3rd quarter worth approximately $665,000. Finally, Vanguard Group Inc. raised its position in TechnipFMC by 320.3% during the 3rd quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $809,303,000 after buying an additional 30,323,011 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insiders Place Their Bets

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FTI has been the topic of several recent research reports. StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Susquehanna increased their price target on TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research report on Friday. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a research note on Friday. Barclays upped their target price on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, TD Cowen lifted their price target on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.07.

TechnipFMC Stock Performance

TechnipFMC stock remained flat at $26.59 during trading on Friday. 3,542,472 shares of the company were exchanged, compared to its average volume of 4,720,067. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 221.58 and a beta of 1.65. The company has a fifty day moving average of $24.07 and a 200-day moving average of $21.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. TechnipFMC plc has a 1 year low of $12.64 and a 1 year high of $27.26.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts anticipate that TechnipFMC plc will post 1.15 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be issued a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. TechnipFMC’s payout ratio is currently 166.67%.

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.