Globeflex Capital L P bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 18,287 shares of the oil and gas company's stock, valued at approximately $529,000.
A number of other large investors have also modified their holdings of FTI. Assetmark Inc. acquired a new position in TechnipFMC during the third quarter worth $265,000. Sigma Planning Corp boosted its position in shares of TechnipFMC by 32.6% during the 3rd quarter. Sigma Planning Corp now owns 11,164 shares of the oil and gas company's stock worth $293,000 after purchasing an additional 2,743 shares in the last quarter. Versor Investments LP acquired a new position in shares of TechnipFMC during the 3rd quarter worth $304,000. Entropy Technologies LP purchased a new position in shares of TechnipFMC in the 3rd quarter valued at about $575,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of TechnipFMC by 971.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock valued at $10,692,000 after purchasing an additional 369,594 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.
TechnipFMC Trading Up 2.5 %
NYSE FTI traded up $0.69 during mid-day trading on Wednesday, reaching $28.80. 5,602,747 shares of the stock were exchanged, compared to its average volume of 3,724,668. The stock has a market capitalization of $12.11 billion, a PE ratio of 18.95 and a beta of 1.54. 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 1-year low of $22.99 and a 1-year high of $33.45. The business's fifty day simple moving average is $29.92 and its 200 day simple moving average is $28.63.
TechnipFMC Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.69%. The ex-dividend date is Tuesday, March 18th. TechnipFMC's dividend payout ratio is currently 10.42%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on FTI. Barclays increased their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $29.00 to $40.00 in a report on Friday, December 6th. TD Cowen reissued a "buy" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a "buy" rating and a $38.00 price objective on the stock. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $36.31.
Read Our Latest Stock Analysis on TechnipFMC
Insider Activity at TechnipFMC
In related news, CAO David Light sold 10,147 shares of the business'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 sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the 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 transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.06% of the company's stock.
About TechnipFMC
(
Free Report)
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.
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