Carmel Capital Partners LLC Trims Position in TechnipFMC plc (NYSE:FTI)

Carmel Capital Partners LLC cut its holdings in shares of TechnipFMC plc (NYSE:FTI) by 25.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,500 shares of the oil and gas company’s stock after selling 2,500 shares during the quarter. Carmel Capital Partners LLC’s holdings in TechnipFMC were worth $217,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in TechnipFMC by 55.2% during 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 during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in TechnipFMC during the 4th quarter worth approximately $45,000. V Square Quantitative Management LLC raised its position in TechnipFMC by 48.2% during 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 buying an additional 563 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in TechnipFMC by 106.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,031 shares of the oil and gas company’s stock worth $59,000 after buying an additional 1,047 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of TechnipFMC during the 3rd quarter valued at approximately $56,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Down 1.5 %

Shares of FTI opened at $26.59 on Thursday. TechnipFMC plc has a 52-week low of $21.36 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’s fifty day moving average is $30.50 and its two-hundred day moving average is $28.61. The stock has a market cap of $11.18 billion, a PE ratio of 17.49 and a beta of 1.54.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Analyst Ratings Changes

FTI has been the subject of several recent research reports. Piper Sandler lifted 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, February 28th. Citigroup lifted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. Evercore ISI lifted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Finally, TD Cowen reaffirmed a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Buy” and an average target price of $36.31.

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.