Bank of Nova Scotia Invests $22.78 Million in TechnipFMC plc (NYSE:FTI)

Bank of Nova Scotia bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 787,267 shares of the oil and gas company's stock, valued at approximately $22,784,000. Bank of Nova Scotia owned about 0.19% of TechnipFMC at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FTI. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TechnipFMC during the fourth quarter worth $46,000. Smartleaf Asset Management LLC raised its stake in TechnipFMC by 55.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in TechnipFMC in the 4th quarter valued at about $45,000. EverSource Wealth Advisors LLC grew its position in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after purchasing an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC increased 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 worth $50,000 after purchasing an additional 563 shares during the period. Institutional investors own 96.58% of the company's stock.

TechnipFMC Trading Up 0.7 %

FTI traded up $0.17 during trading on Tuesday, reaching $25.54. 1,162,771 shares of the stock traded hands, compared to its average volume of 4,614,491. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $33.45. 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 stock's 50-day moving average is $28.43 and its 200 day moving average is $29.00. The stock has a market capitalization of $10.74 billion, a PE ratio of 16.80 and a beta of 1.11.

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TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Tuesday, March 18th. TechnipFMC's dividend payout ratio (DPR) is 10.42%.

Insider Buying and Selling at TechnipFMC

In related news, CAO David Light sold 10,147 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the transaction, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,706 shares of company stock valued at $1,651,665. Corporate insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FTI shares. Barclays lifted their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Evercore ISI upped their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Susquehanna decreased their target price on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research report on Monday. StockNews.com cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, Piper Sandler upped their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, TechnipFMC currently has an average rating of "Moderate 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.