Shayne & Jacobs LLC Trims Stake in TechnipFMC plc (NYSE:FTI)

Shayne & Jacobs LLC reduced its stake in TechnipFMC plc (NYSE:FTI) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,825 shares of the oil and gas company’s stock after selling 695 shares during the period. TechnipFMC accounts for about 1.4% of Shayne & Jacobs LLC’s investment portfolio, making the stock its 7th biggest holding. Shayne & Jacobs LLC’s holdings in TechnipFMC were worth $5,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in FTI. Bank of New York Mellon Corp increased its stake in TechnipFMC by 11.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,454,101 shares of the oil and gas company’s stock valued at $42,082,000 after buying an additional 152,161 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in TechnipFMC in the 4th quarter worth about $1,376,000. TCW Group Inc. raised its holdings in shares of TechnipFMC by 72.8% during the fourth quarter. TCW Group Inc. now owns 398,622 shares of the oil and gas company’s stock valued at $11,536,000 after acquiring an additional 167,992 shares during the period. First Horizon Advisors Inc. raised its stake in TechnipFMC by 352.0% during the 4th quarter. First Horizon Advisors Inc. now owns 4,027 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 3,136 shares during the period. Finally, Olympiad Research LP purchased a new stake in TechnipFMC in the 4th quarter worth about $331,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 3.1 %

NYSE:FTI opened at $27.71 on Wednesday. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 18.23 and a beta of 1.52. 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’s fifty day moving average price is $30.62 and its two-hundred day moving average price is $28.56. TechnipFMC plc has a 52-week low of $21.28 and a 52-week high of $33.45.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.72%. TechnipFMC’s payout ratio is 13.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of TechnipFMC in a research note on Thursday, December 19th. They set an “overweight” rating and a $39.00 target price for the company. The Goldman Sachs Group started coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price target on the stock. Evercore ISI lifted their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $36.15.

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.