Globeflex Capital L P Takes Position in TechnipFMC plc (NYSE:FTI)

Globeflex Capital L P bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,287 shares of the oil and gas company's stock, valued at approximately $529,000.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in TechnipFMC during the fourth quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in TechnipFMC during the fourth quarter worth approximately $46,000. EverSource Wealth Advisors LLC grew its stake in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after buying an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its stake 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 valued at $50,000 after buying an additional 563 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on FTI. Royal Bank of Canada began coverage on TechnipFMC in a research note on Monday, November 18th. They set an "outperform" rating and a $37.00 target price on the stock. The Goldman Sachs Group began coverage on TechnipFMC in a research note on Friday, December 13th. They set a "buy" rating and a $38.00 target price on the stock. Piper Sandler upped their target price on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Evercore ISI increased their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Finally, 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. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, TechnipFMC has a consensus rating of "Buy" and a consensus price target of $36.31.

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TechnipFMC Stock Down 0.6 %

TechnipFMC stock traded down $0.17 during mid-day trading on Tuesday, reaching $28.11. 2,980,250 shares of the company were exchanged, compared to its average volume of 3,717,158. The business has a fifty day moving average of $29.92 and a 200 day moving average of $28.63. 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 firm has a market cap of $11.82 billion, a P/E ratio of 18.49 and a beta of 1.54. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. TechnipFMC's dividend payout ratio is currently 10.42%.

Insiders Place Their Bets

In other news, CAO David Light sold 10,147 shares of the 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the 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 sale, the executive vice president now owns 140,207 shares of the company's stock, 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. 1.06% of the stock is owned by company insiders.

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.