Taika Capital LP Takes Position in TechnipFMC plc (NYSE:FTI)

Taika Capital LP purchased a new position in shares of TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,710 shares of the oil and gas company’s stock, valued at approximately $773,000.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its position in shares of TechnipFMC by 1.7% during the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after buying an additional 133,775 shares in the last quarter. Pacer Advisors Inc. bought a new stake in TechnipFMC during the third quarter worth $185,643,000. Charles Schwab Investment Management Inc. boosted its position in TechnipFMC by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock worth $105,618,000 after purchasing an additional 249,719 shares during the last quarter. Franklin Resources Inc. grew its stake in TechnipFMC by 23.0% in 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 during the period. Finally, Van ECK Associates Corp increased its position in shares of TechnipFMC by 10.4% during the 4th quarter. Van ECK Associates Corp now owns 2,987,606 shares of the oil and gas company’s stock valued at $86,461,000 after purchasing an additional 281,665 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and increased their price target for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Evercore ISI increased their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price target for the company. Finally, Piper Sandler increased their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TechnipFMC currently has a consensus rating of “Buy” and a consensus price target of $36.31.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $26.71 on Monday. The stock has a market cap of $11.23 billion, a PE ratio of 17.57 and a beta of 1.54. TechnipFMC plc has a fifty-two week low of $21.78 and a fifty-two week high of $33.45. 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 stock has a fifty day moving average of $30.40 and a 200-day moving average of $28.63.

TechnipFMC Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

TechnipFMC Company 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.