47,040 Shares in TechnipFMC plc (NYSE:FTI) Purchased by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co bought a new stake in TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 47,040 shares of the oil and gas company’s stock, valued at approximately $1,361,000.

Several other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in TechnipFMC by 51.3% during the 4th quarter. Russell Investments Group Ltd. now owns 747,697 shares of the oil and gas company’s stock valued at $21,638,000 after purchasing an additional 253,519 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of TechnipFMC by 123.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 714,533 shares of the oil and gas company’s stock valued at $20,679,000 after acquiring an additional 394,790 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of TechnipFMC during the fourth quarter worth about $239,000. Systematic Alpha Investments LLC acquired a new stake in shares of TechnipFMC in the 4th quarter worth about $207,000. Finally, Foundry Partners LLC lifted its position in TechnipFMC by 4.4% in the 4th quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company’s stock valued at $394,000 after purchasing an additional 577 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on FTI shares. The Goldman Sachs Group started coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. Evercore ISI raised their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Barclays raised their price target on TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Finally, Piper Sandler upped their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.31.

Insider Activity

In other TechnipFMC news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction 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. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,706 shares of company stock worth $1,651,665. Insiders own 1.80% of the company’s stock.

TechnipFMC Stock Performance

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

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were issued a $0.05 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.80%. 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.