Plato Investment Management Ltd Invests $68,000 in TechnipFMC plc (NYSE:FTI)

Plato Investment Management Ltd purchased a new position in TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,343 shares of the oil and gas company’s stock, valued at approximately $68,000.

A number of other large investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in shares of TechnipFMC by 1,024.4% in the fourth quarter. Jones Financial Companies Lllp now owns 14,347 shares of the oil and gas company’s stock worth $415,000 after acquiring an additional 13,071 shares during the period. Smartleaf Asset Management LLC grew its position in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 525 shares during the period. Chase Investment Counsel Corp bought a new stake in TechnipFMC during the fourth quarter valued at approximately $527,000. US Bancorp DE grew its position in TechnipFMC by 6.1% during the fourth quarter. US Bancorp DE now owns 86,550 shares of the oil and gas company’s stock valued at $2,505,000 after buying an additional 4,965 shares during the period. Finally, Fisher Asset Management LLC grew its position in TechnipFMC by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 550,127 shares of the oil and gas company’s stock valued at $15,921,000 after buying an additional 16,520 shares during the period. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Price Performance

FTI stock opened at $26.59 on Thursday. TechnipFMC plc has a one year low of $21.36 and a one year high of $33.45. The company’s fifty day moving average price is $30.50 and its 200-day moving average price is $28.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The company has a market capitalization of $11.18 billion, a PE ratio of 17.49 and a beta of 1.54.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FTI. Barclays boosted their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their target price for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Piper Sandler boosted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Royal Bank of Canada began coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price for the company. Finally, Evercore ISI boosted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. One investment 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. According to MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and an average price target of $36.31.

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.