State of New Jersey Common Pension Fund D Sells 17,841 Shares of TechnipFMC plc (NYSE:FTI)

State of New Jersey Common Pension Fund D trimmed its position in TechnipFMC plc (NYSE:FTI - Free Report) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,532 shares of the oil and gas company's stock after selling 17,841 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in TechnipFMC were worth $5,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 735 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of TechnipFMC during the 4th quarter worth approximately $45,000. V Square Quantitative Management LLC boosted its stake in TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after buying an additional 563 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in TechnipFMC in the third quarter valued at $56,000. Finally, True Wealth Design LLC acquired a new position in TechnipFMC during the third quarter worth $57,000. 96.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FTI shares. StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Citigroup boosted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Barclays raised their price objective on shares of TechnipFMC from $37.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Piper Sandler assumed coverage on TechnipFMC in a report on Thursday, December 19th. They issued an "overweight" rating and a $39.00 target price on the stock. Finally, Royal Bank of Canada initiated coverage on TechnipFMC in a report on Monday, November 18th. They set an "outperform" rating and a $37.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $36.15.

TechnipFMC Trading Down 5.7 %

FTI stock traded down $1.75 during midday trading on Friday, reaching $28.73. The stock had a trading volume of 1,918,906 shares, compared to its average volume of 3,234,646. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 18.92 and a beta of 1.52. TechnipFMC plc has a twelve month low of $20.04 and a twelve month high of $33.45. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $30.75 and a two-hundred day simple moving average of $28.47.

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.