Ninety One UK Ltd Purchases 333,897 Shares of TechnipFMC plc (NYSE:FTI)

Ninety One UK Ltd increased its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 69.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 813,016 shares of the oil and gas company's stock after buying an additional 333,897 shares during the quarter. Ninety One UK Ltd owned 0.19% of TechnipFMC worth $23,529,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 735 shares during the period. ORG Wealth Partners LLC acquired a new stake in TechnipFMC during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC lifted its stake in TechnipFMC by 59.5% in the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company's stock valued at $49,000 after buying an additional 693 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in shares of TechnipFMC by 1,900.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company's stock valued at $52,000 after buying an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of TechnipFMC during the third quarter worth $56,000. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FTI has been the topic of several research reports. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and boosted their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. The Goldman Sachs Group initiated coverage on TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 price objective for the company. TD Cowen reissued a "buy" rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. StockNews.com raised TechnipFMC from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Finally, Hsbc Global Res upgraded shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC has an average rating of "Buy" and an average price target of $36.15.

TechnipFMC Stock Performance

Shares of FTI traded down $0.02 during midday trading on Friday, reaching $30.81. The stock had a trading volume of 2,766,678 shares, compared to its average volume of 3,191,384. The firm has a market cap of $13.11 billion, a PE ratio of 20.27 and a beta of 1.52. The firm has a 50 day simple moving average of $30.78 and a 200-day simple moving average of $28.32. TechnipFMC plc has a one year low of $18.78 and a one year high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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.