Sheets Smith Investment Management Takes Position in TechnipFMC plc (NYSE:FTI)

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

A number of other hedge funds also recently made changes to their positions in FTI. Smartleaf Asset Management LLC raised its holdings in shares of TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $46,000. EverSource Wealth Advisors LLC raised its holdings in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 563 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.1 %

Shares of NYSE:FTI opened at $29.31 on Monday. The firm has a fifty day moving average of $29.74 and a two-hundred day moving average of $28.70. The firm has a market capitalization of $12.33 billion, a P/E ratio of 19.28 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 quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 0.68%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 10.42%.

Insider Buying and Selling at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction on 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 of the company’s stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the topic of several recent analyst reports. TD Cowen reissued a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and boosted their target price for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Piper Sandler boosted their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays lifted their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Finally, Evercore ISI lifted their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $36.31.

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.