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

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

Several other hedge funds have also recently added to or reduced their stakes in the stock. Baker Tilly Wealth Management LLC raised its holdings in TechnipFMC by 4.1% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock worth $248,000 after buying an additional 338 shares during the period. Yousif Capital Management LLC raised its holdings in shares of TechnipFMC by 4.6% during the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 357 shares during the period. Sigma Planning Corp lifted its position in TechnipFMC by 3.3% in the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock valued at $334,000 after acquiring an additional 363 shares in the last quarter. GAMMA Investing LLC boosted its stake in TechnipFMC by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 414 shares during the period. Finally, Ballentine Partners LLC increased its holdings in TechnipFMC by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after purchasing an additional 423 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

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. TechnipFMC plc has a fifty-two week low of $21.28 and a fifty-two week high of $33.45. 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 fifty day moving average price of $30.62 and a 200-day moving average price of $28.56.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

Analyst Ratings Changes

A number of analysts have recently commented on FTI shares. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Evercore ISI raised their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Citigroup lifted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. TD Cowen restated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Piper Sandler started coverage on TechnipFMC in a research report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price 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.