Globeflex Capital L P Makes New $529,000 Investment in TechnipFMC plc (NYSE:FTI)

Globeflex Capital L P bought a new position 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. The institutional investor 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. Smartleaf Asset Management LLC lifted its position in 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 purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in TechnipFMC in the 4th quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of TechnipFMC during the 4th quarter valued at $46,000. EverSource Wealth Advisors LLC lifted its stake in TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in shares of 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 valued at $50,000 after acquiring an additional 563 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction that occurred 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 sale, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FTI has been the topic of several analyst reports. The Goldman Sachs Group started coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and increased their price target for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Piper Sandler lifted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Royal Bank of Canada assumed coverage on TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. Finally, Barclays lifted their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TechnipFMC has an average rating of “Buy” and an average price target of $36.31.

TechnipFMC Trading Up 2.8 %

NYSE FTI opened at $27.25 on Friday. The company’s 50-day simple moving average is $30.07 and its two-hundred day simple moving average is $28.59. TechnipFMC plc has a one year low of $22.99 and a one year high of $33.45. The company has a market capitalization 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 quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC Announces Dividend

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 issued a $0.05 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. 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.