Jennison Associates LLC Sells 30,083 Shares of TechnipFMC plc (NYSE:FTI)

Jennison Associates LLC decreased its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,330,504 shares of the oil and gas company's stock after selling 30,083 shares during the period. Jennison Associates LLC owned 0.55% of TechnipFMC worth $67,445,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. grew its position in shares of TechnipFMC by 203.6% in 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 during the last quarter. ORG Wealth Partners LLC bought a new stake in TechnipFMC during the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC grew its holdings in TechnipFMC by 59.5% in the 3rd 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 during the last quarter. Toth Financial Advisory Corp increased its position in TechnipFMC by 1,900.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company's stock worth $52,000 after buying an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of TechnipFMC during the third quarter worth approximately $56,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

FTI stock traded down $0.02 during trading on Friday, hitting $30.81. 2,766,678 shares of the stock traded hands, compared to its average volume of 3,391,683. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 20.27 and a beta of 1.52. 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. The company has a 50 day simple moving average of $30.78 and a 200 day simple moving average of $28.32.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FTI shares. The Goldman Sachs Group began coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a "buy" rating and a $38.00 price objective on the stock. StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an "outperform" rating and a $37.00 price objective for the company. HSBC raised TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 target price on the stock in a research report on Tuesday, October 29th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. 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's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $36.15.

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.