Ninety One UK Ltd Increases Stock Holdings in TechnipFMC plc (NYSE:FTI)

Ninety One UK Ltd lifted its position in shares of TechnipFMC plc (NYSE:FTI) by 69.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 813,016 shares of the oil and gas company’s stock after purchasing an additional 333,897 shares during the period. Ninety One UK Ltd owned about 0.19% of TechnipFMC worth $23,529,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 735 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at about $30,000. GAMMA Investing LLC grew its stake in TechnipFMC by 59.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after buying an additional 693 shares during the last quarter. Toth Financial Advisory Corp increased its position in TechnipFMC by 1,900.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after buying an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in TechnipFMC in the third quarter valued at approximately $56,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on FTI shares. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and lifted their target price for the company from $29.00 to $40.00 in a report on Friday, December 6th. Citigroup lifted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays increased their target price on shares of TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group started coverage on TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, TD Cowen reaffirmed a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $36.15.

TechnipFMC Stock Performance

NYSE FTI opened at $31.17 on Thursday. 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’s 50 day moving average is $30.80 and its two-hundred day moving average is $28.29. TechnipFMC plc has a 12-month low of $18.78 and a 12-month high of $33.45. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 20.50 and a beta of 1.52.

TechnipFMC declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.