Pinnbrook Capital Management LP Lowers Stock Position in TechnipFMC plc (NYSE:FTI)

Pinnbrook Capital Management LP decreased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 81.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 345,397 shares of the oil and gas company's stock after selling 1,554,603 shares during the period. TechnipFMC makes up approximately 1.0% of Pinnbrook Capital Management LP's investment portfolio, making the stock its 21st biggest position. Pinnbrook Capital Management LP owned 0.08% of TechnipFMC worth $9,996,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FTI. Sanctuary Advisors LLC purchased a new position in shares of TechnipFMC in the second quarter valued at $210,000. Creative Planning grew its stake in shares of TechnipFMC by 22.9% in the 3rd quarter. Creative Planning now owns 21,372 shares of the oil and gas company's stock worth $561,000 after buying an additional 3,980 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock worth $29,000 after buying an additional 735 shares during the last quarter. Toth Financial Advisory Corp raised its position in shares of TechnipFMC by 1,900.0% during the 3rd 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 in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at about $363,000. 96.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FTI has been the topic of several analyst reports. Susquehanna boosted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a "positive" rating in a research note on Friday, October 25th. Evercore ISI increased their price target on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. HSBC upgraded TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a research report on Tuesday, October 29th. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and increased their target price for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, Piper Sandler started coverage on shares of TechnipFMC in a research note on Thursday, December 19th. They set an "overweight" rating and a $39.00 price target for the company. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $36.15.

TechnipFMC Trading Down 4.7 %

Shares of TechnipFMC stock traded down $1.42 on Friday, hitting $29.06. 4,306,782 shares of the company traded hands, compared to its average volume of 3,310,958. 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 company has a market cap of $12.36 billion, a PE ratio of 19.12 and a beta of 1.52. The stock's 50 day moving average price is $30.71 and its 200-day moving average price is $28.49. TechnipFMC plc has a 52 week low of $20.04 and a 52 week high of $33.45.

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.