Vestcor Inc Makes New Investment in TechnipFMC plc (NYSE:FTI)

Vestcor Inc purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,000 shares of the oil and gas company’s stock, valued at approximately $868,000.

A number of other hedge funds have also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich bought a new stake in TechnipFMC during the 4th quarter valued at approximately $46,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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 worth $43,000 after buying an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of TechnipFMC during the fourth quarter worth $45,000. EverSource Wealth Advisors LLC grew its stake in TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 563 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on FTI shares. Royal Bank of Canada began coverage on TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. Evercore ISI boosted their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Piper Sandler lifted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Jefferies Financial Group upgraded 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 report on Friday, December 6th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $36.31.

Insider Transactions at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were 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 owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the sale, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at $187,472.10. The trade was a 57.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

TechnipFMC Stock Up 2.8 %

NYSE:FTI opened at $27.25 on Friday. The stock has a fifty day simple moving average of $30.07 and a 200-day simple moving average of $28.60. 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 company has a market cap of $11.46 billion, a price-to-earnings ratio of 17.92 and a beta of 1.54. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. TechnipFMC’s dividend payout ratio is currently 10.42%.

TechnipFMC 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.