Amalgamated Bank Has $626,000 Position in TechnipFMC plc (NYSE:FTI)

Amalgamated Bank reduced its position in shares of TechnipFMC plc (NYSE:FTI) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,632 shares of the oil and gas company’s stock after selling 997 shares during the period. Amalgamated Bank’s holdings in TechnipFMC were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Hardman Johnston Global Advisors LLC lifted its holdings in TechnipFMC by 13.5% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after purchasing an additional 1,071,103 shares during the last quarter. State Street Corp raised its holdings in TechnipFMC by 1.7% in the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after acquiring an additional 133,775 shares in the last quarter. Pacer Advisors Inc. acquired a new position in TechnipFMC in the 3rd quarter valued at $185,643,000. Franklin Resources Inc. raised its holdings in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after acquiring an additional 679,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in TechnipFMC by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock valued at $89,177,000 after acquiring an additional 219,081 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FTI has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective for the company. Citigroup lifted their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Piper Sandler lifted their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Evercore ISI boosted 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. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $36.31.

TechnipFMC Trading Down 4.3 %

Shares of FTI stock opened at $26.98 on Wednesday. The firm has a market capitalization of $11.48 billion, a P/E ratio of 17.75 and a beta of 1.52. TechnipFMC plc has a twelve month low of $21.36 and a twelve month high of $33.45. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $30.55 and its 200 day simple moving average is $28.62.

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 dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.74%. TechnipFMC’s dividend payout ratio is currently 10.42%.

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.