KLP Kapitalforvaltning AS Acquires Shares of 90,700 TechnipFMC plc (NYSE:FTI)

KLP Kapitalforvaltning AS bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 90,700 shares of the oil and gas company's stock, valued at approximately $2,625,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its holdings in TechnipFMC by 50.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company's stock worth $66,842,000 after acquiring an additional 773,000 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of TechnipFMC by 68.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company's stock worth $44,454,000 after purchasing an additional 688,622 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after purchasing an additional 679,748 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of TechnipFMC by 69.7% during the fourth quarter. Ninety One UK Ltd now owns 813,016 shares of the oil and gas company's stock valued at $23,529,000 after purchasing an additional 333,897 shares in the last quarter. Finally, AGF Management Ltd. purchased a new stake in shares of TechnipFMC during the fourth quarter valued at $9,315,000. Institutional investors own 96.58% of the company's stock.

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Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David Light sold 10,147 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 7,529 shares of the company's stock, valued at $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,706 shares of company stock valued at $1,651,665. Company insiders own 1.80% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI stock traded down $0.05 during trading hours on Friday, reaching $31.18. 3,966,853 shares of the company traded hands, compared to its average volume of 3,848,394. The firm has a 50-day moving average price of $29.56 and a 200 day moving average price of $28.94. The company has a market cap of $13.11 billion, a P/E ratio of 20.51 and a beta of 1.54. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, March 18th. TechnipFMC's dividend payout ratio (DPR) is 10.42%.

Wall Street Analysts Forecast Growth

FTI has been the topic of several research analyst reports. Evercore ISI upped 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. Barclays boosted their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. StockNews.com cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a "buy" rating and a $38.00 target price for the company. Finally, Piper Sandler raised 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. Two 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.31.

TechnipFMC 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.