25,158 Shares in TechnipFMC plc (NYSE:FTI) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 25,158 shares of the oil and gas company's stock, valued at approximately $728,000.

Several other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after buying an additional 679,748 shares in the last quarter. Park Avenue Securities LLC acquired a new position in TechnipFMC during the fourth quarter worth about $519,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of TechnipFMC by 971.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock worth $10,692,000 after acquiring an additional 369,594 shares during the last quarter. ING Groep NV boosted its stake in shares of TechnipFMC by 15.3% in the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after purchasing an additional 114,600 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of TechnipFMC during the 3rd quarter valued at approximately $49,273,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Down 4.9 %

NYSE:FTI traded down $1.49 during mid-day trading on Friday, hitting $28.99. 2,226,228 shares of the company's stock were exchanged, compared to its average volume of 3,245,260. The company has a market cap of $12.33 billion, a PE ratio of 19.00 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a one year low of $20.04 and a one year high of $33.45. The business has a fifty day moving average price of $30.75 and a 200 day moving average price of $28.47.

Analyst Ratings Changes

FTI has been the topic of a number of research analyst reports. Piper Sandler assumed coverage on shares of TechnipFMC in a research report on Thursday, December 19th. They issued an "overweight" rating and a $39.00 target price on the stock. Evercore ISI boosted their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. TD Cowen reiterated a "buy" rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Barclays boosted their price target on TechnipFMC from $37.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, Citigroup raised their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, November 14th. One equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $36.15.

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.