Chase Investment Counsel Corp Buys Shares of 18,226 TechnipFMC plc (NYSE:FTI)

Chase Investment Counsel Corp bought a new stake in TechnipFMC plc (NYSE:FTI) during the 4th quarter, HoldingsChannel reports. The fund bought 18,226 shares of the oil and gas company’s stock, valued at approximately $527,000.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares during the period. Compagnie Lombard Odier SCmA bought a new position in TechnipFMC in the 4th quarter valued at about $45,000. V Square Quantitative Management LLC increased its holdings 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 valued at $50,000 after buying an additional 563 shares during the period. Capital Performance Advisors LLP bought a new position in TechnipFMC in the 3rd quarter valued at about $56,000. Finally, True Wealth Design LLC bought a new position in TechnipFMC in the 3rd quarter valued at about $57,000. 96.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on FTI. Piper Sandler raised 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. Evercore ISI lifted their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. The Goldman Sachs Group started coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price target on the stock. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Citigroup lifted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $36.23.

TechnipFMC Stock Up 2.1 %

NYSE:FTI opened at $29.42 on Friday. The firm’s 50 day simple moving average is $30.61 and its 200 day simple moving average is $28.58. 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 plc has a one year low of $21.36 and a one year high of $33.45. The company has a market cap of $12.52 billion, a PE ratio of 19.36 and a beta of 1.52.

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 given 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 0.68%. TechnipFMC’s dividend payout ratio (DPR) is currently 10.42%.

About TechnipFMC

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.