Mount Lucas Management LP Trims Stock Position in TechnipFMC plc (NYSE:FTI)

Mount Lucas Management LP decreased its position in shares of TechnipFMC plc (NYSE:FTI) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,053 shares of the oil and gas company’s stock after selling 7,559 shares during the quarter. Mount Lucas Management LP’s holdings in TechnipFMC were worth $1,043,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baker Tilly Wealth Management LLC raised its stake 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 worth $248,000 after buying an additional 338 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in TechnipFMC by 4.6% in the fourth 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 period. 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 worth $334,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC grew its stake 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 worth $66,000 after purchasing an additional 414 shares during the period. Finally, Ballentine Partners LLC lifted its stake in shares of TechnipFMC by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 423 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on FTI shares. Citigroup increased 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. Barclays raised their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. TD Cowen reiterated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TechnipFMC has an average rating of “Buy” and a consensus target price of $36.31.

TechnipFMC Stock Performance

Shares of FTI opened at $26.71 on Monday. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of 17.57 and a beta of 1.54. 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 business’s 50 day moving average is $30.40 and its two-hundred day moving average is $28.63. TechnipFMC plc has a 52-week low of $21.78 and a 52-week high of $33.45.

TechnipFMC Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is 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.