Ieq Capital LLC Has $8.48 Million Holdings in TechnipFMC plc (NYSE:FTI)

Ieq Capital LLC lifted its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 971.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 292,871 shares of the oil and gas company's stock after purchasing an additional 265,546 shares during the period. Ieq Capital LLC owned 0.07% of TechnipFMC worth $8,476,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in FTI. Franklin Resources Inc. increased its position in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after buying an additional 679,748 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of TechnipFMC in the fourth quarter worth $519,000. Sumitomo Mitsui Trust Group Inc. increased its position in TechnipFMC by 971.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock worth $10,692,000 after acquiring an additional 369,594 shares during the period. ING Groep NV raised its stake in TechnipFMC by 15.3% during the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after purchasing an additional 114,600 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in TechnipFMC in the 3rd quarter valued at $49,273,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on FTI. TD Cowen restated a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Barclays boosted their price target on TechnipFMC from $37.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Piper Sandler initiated coverage on TechnipFMC in a research report on Thursday, December 19th. They issued an "overweight" rating and a $39.00 price objective for the company. The Goldman Sachs Group began coverage on TechnipFMC in a report on Friday, December 13th. They set a "buy" rating and a $38.00 price objective on the stock. Finally, Citigroup upped their target price on TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Buy" and a consensus price target of $36.15.

TechnipFMC Price Performance

Shares of NYSE FTI traded down $1.42 during midday trading on Friday, reaching $29.06. 4,306,782 shares of the company traded hands, compared to its average volume of 3,310,958. The stock's 50-day simple moving average is $30.75 and its 200-day simple moving average is $28.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 12 month low of $20.04 and a 12 month high of $33.45. The firm has a market cap of $12.36 billion, a PE ratio of 19.12 and a beta of 1.52.

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.