Fox Run Management L.L.C. Makes New Investment in TechnipFMC plc (NYSE:FTI)

Fox Run Management L.L.C. purchased a new position in TechnipFMC plc (NYSE:FTI) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 42,609 shares of the oil and gas company’s stock, valued at approximately $1,233,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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. Bank Julius Baer & Co. Ltd Zurich purchased a new position in TechnipFMC in the 4th quarter worth approximately $46,000. EverSource Wealth Advisors LLC grew its stake in TechnipFMC by 393.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted 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 worth $50,000 after acquiring an additional 563 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $29.00 to $40.00 in a report on Friday, December 6th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective 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 boosted their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, Piper Sandler boosted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.31.

TechnipFMC Trading Up 0.1 %

NYSE:FTI opened at $29.31 on Friday. The company has a fifty day moving average of $29.74 and a 200 day moving average of $28.68. TechnipFMC plc has a 52 week low of $22.99 and a 52 week 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. The firm has a market capitalization of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 annualized dividend and a yield of 0.68%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Insiders Place Their Bets

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

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.