TechnipFMC plc (NYSE:FTI) Shares Purchased by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd boosted its position in TechnipFMC plc (NYSE:FTI) by 1,353.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,700 shares of the oil and gas company’s stock after purchasing an additional 37,900 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in TechnipFMC were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in TechnipFMC by 49.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,206 shares of the oil and gas company’s stock valued at $411,000 after purchasing an additional 4,684 shares during the last quarter. Vestcor Inc purchased a new stake in TechnipFMC in the 4th quarter valued at about $868,000. Avantax Advisory Services Inc. grew its holdings in TechnipFMC by 24.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock valued at $634,000 after buying an additional 4,314 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 valued at $49,000 after buying an additional 1,338 shares during the period. Finally, HighTower Advisors LLC grew its holdings in TechnipFMC by 39.1% in the 4th quarter. HighTower Advisors LLC now owns 33,090 shares of the oil and gas company’s stock valued at $958,000 after buying an additional 9,296 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insiders Place Their Bets

In other TechnipFMC 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now directly owns 7,529 shares in the company, 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 owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on FTI shares. The Goldman Sachs Group started coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target for the company. Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $40.00 in a report on Friday, December 6th. Evercore ISI lifted their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada initiated coverage on TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price for the company. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $36.31.

TechnipFMC Stock Up 2.8 %

NYSE FTI opened at $27.25 on Friday. The stock has a market cap of $11.46 billion, a PE ratio of 17.92 and a beta of 1.54. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45. The business has a 50 day moving average price of $30.07 and a two-hundred day moving average price of $28.59. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

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