Canada Pension Plan Investment Board Acquires 134,900 Shares of TechnipFMC plc (NYSE:FTI)

Canada Pension Plan Investment Board lifted its position in TechnipFMC plc (NYSE:FTI - Free Report) by 88.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 287,800 shares of the oil and gas company's stock after purchasing an additional 134,900 shares during the quarter. Canada Pension Plan Investment Board owned 0.07% of TechnipFMC worth $8,329,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FTI. Morse Asset Management Inc grew its stake in TechnipFMC by 1.9% during the third quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company's stock worth $1,772,000 after buying an additional 1,245 shares during the last quarter. Sanctuary Advisors LLC grew its position in TechnipFMC by 264.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company's stock worth $755,000 after acquiring an additional 20,877 shares during the last quarter. Franklin Resources Inc. increased its holdings in TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after purchasing an additional 679,748 shares in the last quarter. GAMMA Investing LLC increased its holdings in TechnipFMC by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock valued at $66,000 after purchasing an additional 414 shares in the last quarter. Finally, Insight Wealth Strategies LLC bought a new position in TechnipFMC in the 4th quarter valued at $4,088,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays raised their target price on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday. StockNews.com lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Evercore ISI upped their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Piper Sandler lifted 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. Finally, Susquehanna cut their price target on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. 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 stock. According to data from MarketBeat.com, TechnipFMC presently has an average rating of "Moderate Buy" and a consensus target price of $36.31.

Insider Transactions at TechnipFMC

In related news, 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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 100,951 shares in the company, valued at approximately $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 a total of 61,706 shares of company stock valued at $1,651,665 over the last 90 days. 1.80% of the stock is owned by company insiders.

TechnipFMC Trading Up 3.1 %

Shares of FTI stock traded up $0.86 on Friday, reaching $28.36. The company had a trading volume of 6,006,081 shares, compared to its average volume of 3,995,755. The stock has a market cap of $11.93 billion, a PE ratio of 18.66 and a beta of 1.11. The company has a 50-day moving average of $27.58 and a 200-day moving average of $28.88. 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 plc has a 12 month low of $22.12 and a 12 month high of $33.45.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. On average, equities analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. TechnipFMC's dividend payout ratio (DPR) is currently 10.42%.

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.