Sheets Smith Investment Management Makes New Investment in TechnipFMC plc (NYSE:FTI)

Sheets Smith Investment Management purchased a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 49,608 shares of the oil and gas company's stock, valued at approximately $1,436,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 525 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of TechnipFMC in the fourth quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC during the fourth quarter worth $46,000. EverSource Wealth Advisors LLC raised its stake in 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 valued at $49,000 after purchasing an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 563 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on FTI shares. Barclays upped their price objective on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. The Goldman Sachs Group began coverage on TechnipFMC in a research report on Friday, December 13th. They issued a "buy" rating and a $38.00 price objective for the company. Evercore ISI boosted their price objective on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and raised their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Finally, Piper Sandler boosted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.31.

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TechnipFMC Price Performance

NYSE FTI traded down $0.05 during trading hours on Friday, reaching $31.18. 3,966,853 shares of the company's stock were exchanged, compared to its average volume of 3,848,394. The firm has a fifty day moving average of $29.56 and a 200-day moving average of $28.86. TechnipFMC plc has a one year low of $22.99 and a one year high of $33.45. The stock has a market cap of $13.11 billion, a PE ratio of 20.51 and a beta of 1.54. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC's payout ratio is presently 10.42%.

Insider Activity

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction dated 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at approximately $187,472.10. This represents a 57.41 % 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 worth $1,651,665. 1.06% of the stock is owned by corporate insiders.

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.