TechnipFMC (NYSE:FTI) Lowered to Hold Rating by StockNews.com

TechnipFMC (NYSE:FTI) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other brokerages have also recently issued reports on FTI. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. Piper Sandler raised their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Evercore ISI upped their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and increased their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Finally, TD Cowen restated a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Two equities research 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 company’s stock. According to MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus price target of $36.31.

TechnipFMC Price Performance

NYSE:FTI traded up $0.44 during mid-day trading on Thursday, reaching $31.22. 4,424,897 shares of the stock were exchanged, compared to its average volume of 3,753,341. 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 business has a fifty day moving average price of $29.59 and a 200 day moving average price of $28.81. TechnipFMC has a 1-year low of $22.99 and a 1-year high of $33.45. The firm has a market capitalization of $13.13 billion, a PE ratio of 20.54 and a beta of 1.54.

Insider Buying and Selling

In other TechnipFMC news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction 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 completion of the sale, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. This trade represents a 57.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,706 shares of company stock valued at $1,651,665. Corporate insiders own 1.06% of the company’s stock.

Institutional Trading of TechnipFMC

A number of institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its holdings in shares of TechnipFMC by 31.5% during the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company’s stock valued at $478,620,000 after purchasing an additional 3,962,315 shares in the last quarter. Norges Bank acquired a new position in TechnipFMC during the fourth quarter worth $96,808,000. Anomaly Capital Management LP raised its holdings in TechnipFMC by 46.5% during the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company’s stock valued at $210,295,000 after buying an additional 2,306,342 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of TechnipFMC by 70.6% in the fourth quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company’s stock worth $119,602,000 after buying an additional 1,710,183 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of TechnipFMC by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after acquiring an additional 1,623,864 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.