Lebenthal Global Advisors LLC Purchases Shares of 11,795 TechnipFMC plc (NYSE:FTI)

Lebenthal Global Advisors LLC bought a new stake in TechnipFMC plc (NYSE:FTI) during the 4th quarter, HoldingsChannel reports. The firm bought 11,795 shares of the oil and gas company’s stock, valued at approximately $341,000.

Other large investors have also added to or reduced their stakes in the company. Baker Tilly Wealth Management LLC raised its holdings in shares of TechnipFMC by 4.1% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock valued at $248,000 after purchasing an additional 338 shares during the period. GAMMA Investing LLC raised its stake 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 worth $66,000 after buying an additional 414 shares during the period. Ballentine Partners LLC boosted its holdings in TechnipFMC by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 423 shares in the last quarter. Creative Planning increased its stake in TechnipFMC by 3.2% during the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after purchasing an additional 546 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its holdings in shares of TechnipFMC by 8.8% in the 4th quarter. Impact Partnership Wealth LLC now owns 8,967 shares of the oil and gas company’s stock worth $260,000 after acquiring an additional 722 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $30.46 on Tuesday. 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 stock has a 50 day moving average price of $30.75 and a 200-day moving average price of $28.15. TechnipFMC plc has a one year low of $18.53 and a one year high of $33.45. The stock has a market cap of $12.96 billion, a price-to-earnings ratio of 20.04 and a beta of 1.54.

TechnipFMC announced that its board has initiated a stock repurchase plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays upped their target price on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Susquehanna raised their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Piper Sandler began coverage on shares of TechnipFMC in a research note on Thursday, December 19th. They issued an “overweight” rating and a $39.00 target price on the stock. The Goldman Sachs Group began coverage on TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 price objective for the company. Finally, HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, October 29th. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $36.15.

TechnipFMC 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.