Los Angeles Capital Management LLC Cuts Stock Position in TechnipFMC plc (NYSE:FTI)

Los Angeles Capital Management LLC lessened its holdings in TechnipFMC plc (NYSE:FTI) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,020,496 shares of the oil and gas company’s stock after selling 6,331 shares during the period. Los Angeles Capital Management LLC owned about 0.24% of TechnipFMC worth $29,533,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its stake in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in TechnipFMC during the 4th quarter worth $45,000. V Square Quantitative Management LLC increased its stake in TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after buying an additional 563 shares during the period. Capital Performance Advisors LLP purchased a new stake in TechnipFMC during the 3rd quarter worth $56,000. Finally, True Wealth Design LLC purchased a new stake in TechnipFMC during the 3rd quarter worth $57,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, October 29th. Evercore ISI lifted their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Piper Sandler began coverage on shares of TechnipFMC in a report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price objective for the company. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and raised their price objective for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Finally, Barclays raised their price objective on shares of TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $36.15.

TechnipFMC Trading Down 3.1 %

NYSE FTI opened at $27.71 on Wednesday. TechnipFMC plc has a one year low of $21.28 and a one year high of $33.45. The company has a 50-day simple moving average of $30.62 and a 200-day simple moving average of $28.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm has a market capitalization of $11.79 billion, a PE ratio of 18.23 and a beta of 1.52.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.72%. TechnipFMC’s dividend payout ratio is presently 13.16%.

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.