iA Global Asset Management Inc. Takes $214,000 Position in TechnipFMC plc (NYSE:FTI)

iA Global Asset Management Inc. bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the fourth quarter, Holdings Channel reports. The institutional investor bought 7,391 shares of the oil and gas company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Baker Tilly Wealth Management LLC boosted its position in shares of TechnipFMC by 4.1% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 338 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of TechnipFMC by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 357 shares during the last quarter. Sigma Planning Corp boosted its position in shares of TechnipFMC by 3.3% during the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock valued at $334,000 after acquiring an additional 363 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of TechnipFMC by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 414 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of TechnipFMC by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock valued at $337,000 after acquiring an additional 423 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO David Light sold 10,147 shares of the firm’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 transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Justin Rounce sold 42,178 shares of the firm’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 transaction, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FTI shares. TD Cowen restated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research report on Wednesday, November 27th. Barclays raised 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. Evercore ISI raised their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Piper Sandler raised their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $36.31.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $29.31 on Friday. The firm has a market cap of $12.33 billion, a P/E ratio of 19.28 and a beta of 1.54. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The stock’s fifty day moving average price is $29.74 and its 200-day moving average price is $28.68.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. TechnipFMC’s dividend payout ratio is currently 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.