New York Life Investment Management LLC Has $1.31 Million Position in TechnipFMC plc (NYSE:FTI)

New York Life Investment Management LLC lessened its position in shares of TechnipFMC plc (NYSE:FTI) by 8.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 45,207 shares of the oil and gas company’s stock after selling 4,248 shares during the quarter. New York Life Investment Management LLC’s holdings in TechnipFMC were worth $1,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA acquired a new stake in TechnipFMC during the 4th quarter valued at approximately $45,000. V Square Quantitative Management LLC increased its position 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 valued at $50,000 after purchasing an additional 563 shares during the period. Capital Performance Advisors LLP acquired a new stake in TechnipFMC during the 3rd quarter valued at approximately $56,000. True Wealth Design LLC acquired a new stake in TechnipFMC during the 3rd quarter valued at approximately $57,000. Finally, GAMMA Investing LLC increased its position in TechnipFMC by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 414 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FTI. Barclays increased their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada initiated coverage on TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 price target on the stock. TD Cowen restated a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, Citigroup increased their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and an average target price of $36.31.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $28.19 on Tuesday. 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’s fifty day simple moving average is $30.60 and its two-hundred day simple moving average is $28.62. TechnipFMC plc has a 1-year low of $21.36 and a 1-year high of $33.45. The stock has a market cap of $11.99 billion, a PE ratio of 18.55 and a beta of 1.52.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.71%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

About TechnipFMC

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.