Foundry Partners LLC Raises Stock Holdings in TechnipFMC plc (NYSE:FTI)

Foundry Partners LLC raised its position in shares of TechnipFMC plc (NYSE:FTI) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,601 shares of the oil and gas company’s stock after purchasing an additional 577 shares during the quarter. Foundry Partners LLC’s holdings in TechnipFMC were worth $394,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in TechnipFMC by 55.2% in 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 last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of TechnipFMC in the 4th quarter valued at $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of TechnipFMC in the 4th quarter valued at $46,000. EverSource Wealth Advisors LLC increased its stake in shares of TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,338 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in shares of TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 563 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Trading Down 14.9 %

FTI stock opened at $25.10 on Friday. TechnipFMC plc has a 12-month low of $22.99 and a 12-month high of $33.45. The business’s 50-day moving average is $29.38 and its 200 day moving average is $29.10. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 16.52 and a beta of 1.11.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FTI. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Barclays raised their target price on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. The Goldman Sachs Group initiated 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 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. Finally, StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.31.

Insider Buying and Selling

In other news, EVP Justin Rounce sold 42,178 shares of the business’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 transaction of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the sale, the director now owns 100,951 shares of the company’s stock, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is owned by corporate insiders.

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.