Taika Capital LP Takes $773,000 Position in TechnipFMC plc (NYSE:FTI)

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

Other hedge funds have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC during the 4th quarter valued at $46,000. Smartleaf Asset Management LLC grew its stake in TechnipFMC by 55.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after buying an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in TechnipFMC in the 4th quarter worth approximately $45,000. V Square Quantitative Management LLC grew its stake 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 worth $50,000 after buying an additional 563 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in TechnipFMC by 106.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,031 shares of the oil and gas company’s stock worth $59,000 after buying an additional 1,047 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FTI shares. Citigroup boosted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. TD Cowen reissued a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Evercore ISI upped their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Barclays upped their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Finally, Piper Sandler upped their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, TechnipFMC currently has an average rating of “Buy” and an average price target of $36.31.

TechnipFMC Trading Up 1.5 %

Shares of FTI stock opened at $26.71 on Monday. The stock has a market capitalization of $11.23 billion, a PE ratio of 17.57 and a beta of 1.54. TechnipFMC plc has a 1-year low of $21.78 and a 1-year high of $33.45. The business has a 50-day moving average of $30.40 and a 200 day moving average of $28.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. TechnipFMC’s dividend payout ratio 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.