Stephens Investment Management Group LLC Sells 52,655 Shares of TechnipFMC plc (NYSE:FTI)

Stephens Investment Management Group LLC trimmed its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,411,711 shares of the oil and gas company's stock after selling 52,655 shares during the quarter. TechnipFMC accounts for 1.3% of Stephens Investment Management Group LLC's portfolio, making the stock its 14th largest position. Stephens Investment Management Group LLC owned approximately 0.80% of TechnipFMC worth $98,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Triasima Portfolio Management inc. bought a new stake in TechnipFMC in the 4th quarter valued at $236,000. Sumitomo Mitsui Trust Group Inc. lifted its position in TechnipFMC by 1.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 413,754 shares of the oil and gas company's stock valued at $11,974,000 after acquiring an additional 6,116 shares in the last quarter. Yousif Capital Management LLC lifted its position in TechnipFMC by 4.6% in the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company's stock valued at $236,000 after acquiring an additional 357 shares in the last quarter. Ninety One UK Ltd lifted its position in TechnipFMC by 69.7% in the 4th quarter. Ninety One UK Ltd now owns 813,016 shares of the oil and gas company's stock valued at $23,529,000 after acquiring an additional 333,897 shares in the last quarter. Finally, SYM FINANCIAL Corp bought a new stake in TechnipFMC in the 4th quarter valued at $205,000. 96.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FTI shares. Jefferies Financial Group upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and lifted their price target for the company from $29.00 to $40.00 in a research note on Friday, December 6th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a "buy" rating and a $38.00 price objective on the stock. Barclays boosted their price objective on shares of TechnipFMC from $37.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Piper Sandler assumed coverage on shares of TechnipFMC in a research note on Thursday, December 19th. They set an "overweight" rating and a $39.00 price objective on the stock. Finally, TD Cowen restated a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. One 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 company's stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of "Buy" and an average price target of $36.15.

TechnipFMC Trading Down 3.1 %

Shares of FTI stock traded down $0.98 during trading hours on Wednesday, hitting $30.62. 3,015,986 shares of the company's stock traded hands, compared to its average volume of 3,315,994. The stock's 50 day simple moving average is $30.78 and its 200 day simple moving average is $28.39. The stock has a market cap of $13.03 billion, a PE ratio of 20.14 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 quick ratio of 0.89, a current ratio of 1.14 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 permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

TechnipFMC Company 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.