Ilmarinen Mutual Pension Insurance Co Makes New $1.36 Million Investment in TechnipFMC plc (NYSE:FTI)

Ilmarinen Mutual Pension Insurance Co bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 47,040 shares of the oil and gas company's stock, valued at approximately $1,361,000.

Other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of TechnipFMC by 51.3% during the 4th quarter. Russell Investments Group Ltd. now owns 747,697 shares of the oil and gas company's stock valued at $21,638,000 after buying an additional 253,519 shares in the last quarter. Envestnet Asset Management Inc. grew its position in TechnipFMC by 123.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 714,533 shares of the oil and gas company's stock valued at $20,679,000 after acquiring an additional 394,790 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of TechnipFMC during the fourth quarter worth approximately $239,000. Systematic Alpha Investments LLC purchased a new stake in shares of TechnipFMC in the 4th quarter valued at $207,000. Finally, Foundry Partners LLC grew its holdings in shares of TechnipFMC by 4.4% during the 4th quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company's stock valued at $394,000 after purchasing an additional 577 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the sale, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. The trade was a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares of the company's stock, valued at $3,722,495.85. The trade was a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock worth $1,651,665 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

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TechnipFMC Trading Up 1.8 %

TechnipFMC stock traded up $0.44 during midday trading on Friday, reaching $24.58. The stock had a trading volume of 1,924,246 shares, compared to its average volume of 3,912,604. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 16.17 and a beta of 1.11. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $33.45. The company has a fifty day moving average of $28.67 and a 200 day moving average of $28.99.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Tuesday, March 18th. TechnipFMC's dividend payout ratio is presently 10.42%.

Wall Street Analysts Forecast Growth

FTI has been the subject of several analyst reports. Barclays upped their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. Piper Sandler increased their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Evercore ISI lifted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a "buy" rating and a $38.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.31.

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.