90,700 Shares in TechnipFMC plc (NYSE:FTI) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 90,700 shares of the oil and gas company’s stock, valued at approximately $2,625,000.

A number of other large investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its stake in shares of 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 valued at $43,000 after acquiring an additional 525 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in TechnipFMC during the fourth quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC during the fourth quarter worth $46,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 valued at $49,000 after buying an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings 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 buying an additional 563 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FTI. The Goldman Sachs Group began coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. TD Cowen restated a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Evercore ISI increased their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Piper Sandler boosted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and increased their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $36.31.

Insiders Place Their Bets

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction dated 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 owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This trade represents a 23.13 % 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, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the sale, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,706 shares of company stock valued at $1,651,665. 1.06% of the stock is owned by corporate insiders.

TechnipFMC Trading Up 1.1 %

NYSE:FTI opened at $30.73 on Thursday. TechnipFMC plc has a 1 year low of $22.99 and a 1 year high of $33.45. The stock has a market cap of $12.92 billion, a P/E ratio of 20.22 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. The stock has a 50-day simple moving average of $29.61 and a 200-day simple moving average of $28.79.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.65%. TechnipFMC’s dividend payout ratio is currently 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.