Calamos Wealth Management LLC reduced its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 16.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,190 shares of the oil and gas company's stock after selling 13,608 shares during the period. Calamos Wealth Management LLC's holdings in TechnipFMC were worth $2,002,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of FTI. Pacer Advisors Inc. purchased a new position in shares of TechnipFMC during the 3rd quarter worth about $185,643,000. Westfield Capital Management Co. LP acquired a new position in TechnipFMC during the third quarter worth approximately $49,273,000. Jennison Associates LLC raised its stake in TechnipFMC by 95.0% during the third quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company's stock worth $61,918,000 after purchasing an additional 1,150,049 shares during the period. Hardman Johnston Global Advisors LLC boosted its holdings in shares of TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company's stock valued at $236,482,000 after purchasing an additional 1,071,103 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of TechnipFMC by 68.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company's stock valued at $44,454,000 after buying an additional 688,622 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on FTI shares. Hsbc Global Res upgraded TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Royal Bank of Canada began coverage on TechnipFMC in a research note on Monday, November 18th. They issued an "outperform" rating and a $37.00 price objective on the stock. BMO Capital Markets boosted their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a "market perform" rating in a report on Thursday, October 10th. Susquehanna raised their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a report on Friday, October 25th. Finally, Bank of America boosted their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $36.15.
View Our Latest Stock Report on FTI
TechnipFMC Stock Performance
Shares of NYSE:FTI traded down $0.02 during trading on Friday, reaching $30.81. 2,766,678 shares of the company's stock traded hands, compared to its average volume of 3,391,683. The stock has a market capitalization of $13.11 billion, a P/E ratio of 20.27 and a beta of 1.52. TechnipFMC plc has a 12 month low of $18.78 and a 12 month high of $33.45. The company has a 50 day moving average of $30.78 and a 200-day moving average of $28.32. 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 announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
About TechnipFMC
(
Free Report)
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.
Further Reading
Before you consider TechnipFMC, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TechnipFMC wasn't on the list.
While TechnipFMC currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
