Dockside LLC acquired a new stake in TechnipFMC plc (NYSE:FTI – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 142,086 shares of the oil and gas company’s stock, valued at approximately $6,331,000. TechnipFMC makes up about 1.6% of Dockside LLC’s holdings, making the stock its 9th biggest holding.
Several other large investors have also recently bought and sold shares of FTI. Harbor Investment Advisory LLC bought a new position in TechnipFMC in the fourth quarter valued at about $32,000. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC in the third quarter valued at about $32,000. Geneos Wealth Management Inc. raised its position in TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in TechnipFMC in the fourth quarter valued at about $41,000. Finally, Torren Management LLC bought a new position in TechnipFMC in the fourth quarter valued at about $45,000. 96.58% of the stock is currently owned by institutional investors.
TechnipFMC Price Performance
Shares of FTI opened at $70.70 on Friday. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The company has a market capitalization of $28.19 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The business has a 50-day moving average of $71.67 and a 200-day moving average of $61.15.
TechnipFMC Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s payout ratio is 7.63%.
Analyst Ratings Changes
FTI has been the subject of several research reports. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Evercore reiterated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Citigroup increased their target price on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Piper Sandler increased their target price on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.71.
Check Out Our Latest Stock Analysis on FTI
Insider Activity
In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director owned 59,887 shares of the company’s stock, valued at $4,151,366.84. This trade represents a 9.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.
About TechnipFMC
TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.
Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.
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