Fox Run Management L.L.C. Makes New Investment in TechnipFMC plc (NYSE:FTI)

Fox Run Management L.L.C. purchased a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,609 shares of the oil and gas company's stock, valued at approximately $1,233,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Natixis Advisors LLC grew its stake in shares of TechnipFMC by 14.6% in the 3rd quarter. Natixis Advisors LLC now owns 109,330 shares of the oil and gas company's stock valued at $2,868,000 after buying an additional 13,889 shares during the period. Pathstone Holdings LLC increased its holdings in shares of TechnipFMC by 1.5% during the third quarter. Pathstone Holdings LLC now owns 113,624 shares of the oil and gas company's stock valued at $2,980,000 after acquiring an additional 1,714 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of TechnipFMC by 12.6% during the third quarter. PNC Financial Services Group Inc. now owns 213,539 shares of the oil and gas company's stock worth $5,601,000 after purchasing an additional 23,893 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of TechnipFMC by 4,558.4% in the 3rd quarter. Avior Wealth Management LLC now owns 13,556 shares of the oil and gas company's stock worth $356,000 after purchasing an additional 13,265 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in TechnipFMC in the 3rd quarter valued at $342,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Performance

FTI traded up $0.44 during midday trading on Thursday, reaching $31.22. The company had a trading volume of 4,424,897 shares, compared to its average volume of 3,755,541. The business has a 50-day moving average price of $29.61 and a two-hundred day moving average price of $28.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The stock has a market cap of $13.13 billion, a PE ratio of 20.54 and a beta of 1.54.

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TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 0.64%. The ex-dividend date is Tuesday, March 18th. TechnipFMC's dividend payout ratio is currently 10.42%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FTI. Piper Sandler raised their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Barclays lifted their price target on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and increased their price objective for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. The Goldman Sachs Group began coverage on TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 target price on the stock. Finally, Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TechnipFMC has an average rating of "Buy" and an average price target of $36.31.

Insider Activity

In related news, CAO David Light sold 10,147 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock valued at $1,651,665 in the last 90 days. Insiders own 1.06% of the company's stock.

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.