Globeflex Capital L P Purchases New Stake in TechnipFMC plc (NYSE:FTI)

Globeflex Capital L P bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,287 shares of the oil and gas company’s stock, valued at approximately $529,000.

Other large investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its position in shares of TechnipFMC by 77.8% during the fourth quarter. Natixis Advisors LLC now owns 194,442 shares of the oil and gas company’s stock valued at $5,627,000 after buying an additional 85,112 shares during the last quarter. Catalyst Funds Management Pty Ltd boosted its stake in shares of TechnipFMC by 1,353.6% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 40,700 shares of the oil and gas company’s stock valued at $1,178,000 after purchasing an additional 37,900 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in TechnipFMC by 49.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,206 shares of the oil and gas company’s stock valued at $411,000 after purchasing an additional 4,684 shares during the last quarter. Vestcor Inc acquired a new stake in shares of TechnipFMC during the fourth quarter worth approximately $868,000. Finally, Avantax Advisory Services Inc. grew its position in TechnipFMC by 24.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock worth $634,000 after acquiring an additional 4,314 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 10,147 shares of TechnipFMC 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 sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

FTI has been the subject of a number of recent research reports. Piper Sandler boosted their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Evercore ISI boosted their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. TD Cowen reissued a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Wednesday, November 27th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $40.00 in a report on Friday, December 6th. Finally, 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 objective for the company. One investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $36.31.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $27.25 on Friday. TechnipFMC plc has a one year low of $22.99 and a one year high of $33.45. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 17.92 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $30.07 and a 200 day simple moving average of $28.59.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

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.