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

Plato Investment Management Ltd bought a new position in TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,343 shares of the oil and gas company’s stock, valued at approximately $68,000.

Several other hedge funds have also recently modified their holdings of the stock. Creative Planning raised its stake in TechnipFMC by 22.9% during the third quarter. Creative Planning now owns 21,372 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 3,980 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in TechnipFMC during the third quarter valued at $363,000. Wealth Enhancement Advisory Services LLC raised its stake in TechnipFMC by 152.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 37,440 shares of the oil and gas company’s stock valued at $982,000 after purchasing an additional 22,624 shares in the last quarter. US Bancorp DE raised its stake in TechnipFMC by 54.1% during the third quarter. US Bancorp DE now owns 81,585 shares of the oil and gas company’s stock valued at $2,140,000 after purchasing an additional 28,649 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in TechnipFMC by 414.8% during the third quarter. Farther Finance Advisors LLC now owns 3,089 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 2,489 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 1.5 %

NYSE FTI opened at $26.59 on Thursday. The company’s 50-day moving average price is $30.50 and its 200-day moving average price is $28.61. 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 $11.18 billion, a PE ratio of 17.49 and a beta of 1.54. TechnipFMC plc has a 12 month low of $21.36 and a 12 month high of $33.45.

TechnipFMC Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is presently 10.42%.

Analyst Ratings Changes

A number of research firms recently issued reports on FTI. Royal Bank of Canada began coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price target on the stock. Barclays upped their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler boosted their price objective 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. Evercore ISI boosted their price objective 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. Finally, Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $36.31.

TechnipFMC Company 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.