CTC Alternative Strategies Ltd. Takes Position in TechnipFMC plc (NYSE:FTI)

CTC Alternative Strategies Ltd. acquired a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,494 shares of the oil and gas company's stock, valued at approximately $304,000. TechnipFMC comprises 0.4% of CTC Alternative Strategies Ltd.'s holdings, making the stock its 25th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its holdings in shares of TechnipFMC by 24.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock valued at $634,000 after purchasing an additional 4,314 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of TechnipFMC in the fourth quarter valued at $519,000. Raymond James Financial Inc. purchased a new position in shares of TechnipFMC in the fourth quarter valued at $9,152,000. Charles Schwab Investment Management Inc. grew its holdings in shares of TechnipFMC by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock valued at $105,618,000 after purchasing an additional 249,719 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of TechnipFMC by 1,024.4% in the fourth quarter. Jones Financial Companies Lllp now owns 14,347 shares of the oil and gas company's stock valued at $415,000 after purchasing an additional 13,071 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FTI shares. Barclays raised their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Piper Sandler raised their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Susquehanna dropped their price objective on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Monday, April 28th. Finally, Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.46.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the 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 completion of the sale, the executive vice president now directly owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. This represents a 23.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at approximately $187,472.10. The trade was a 57.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is currently owned by insiders.

TechnipFMC Stock Up 1.3%

Shares of FTI stock traded up $0.40 on Wednesday, hitting $30.65. The stock had a trading volume of 7,486,187 shares, compared to its average volume of 4,021,467. 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 business has a 50 day moving average price of $28.44 and a 200 day moving average price of $29.41. The company has a market cap of $12.85 billion, a PE ratio of 20.17 and a beta of 0.98. TechnipFMC plc has a one year low of $22.12 and a one year high of $33.45.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.65%. TechnipFMC's payout ratio is currently 10.53%.

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.