Flagship Harbor Advisors LLC Makes New Investment in TechnipFMC plc (NYSE:FTI)

Flagship Harbor Advisors LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,626 shares of the oil and gas company's stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in TechnipFMC by 203.6% in the 3rd 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 bought a new position in shares of TechnipFMC in the third quarter worth $30,000. GAMMA Investing LLC lifted its position in TechnipFMC by 59.5% during the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company's stock worth $49,000 after purchasing an additional 693 shares during the period. Toth Financial Advisory Corp lifted 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 purchasing an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in TechnipFMC during the third quarter worth about $56,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen reaffirmed a "buy" rating and set a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Jefferies Financial Group upgraded TechnipFMC from a "hold" rating to a "buy" rating and upped their target price for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Susquehanna boosted 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. HSBC raised TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 29th. Finally, Barclays boosted their target price on TechnipFMC from $37.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $36.15.

TechnipFMC Trading Up 0.9 %

NYSE FTI traded up $0.27 during mid-day trading on Thursday, reaching $30.45. 1,176,789 shares of the stock were exchanged, compared to its average volume of 3,389,704. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $30.81 and a 200-day simple moving average of $28.19. 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 $12.95 billion, a P/E ratio of 20.03 and a beta of 1.54.

TechnipFMC announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors 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.