8,150 Shares in TechnipFMC plc (NYSE:FTI) Bought by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. acquired a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,150 shares of the oil and gas company's stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in 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 purchasing an additional 735 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of TechnipFMC in the third quarter valued at $30,000. GAMMA Investing LLC boosted its position in shares of TechnipFMC by 59.5% in the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company's stock worth $49,000 after buying an additional 693 shares during the period. Toth Financial Advisory Corp grew its holdings in shares of TechnipFMC by 1,900.0% during the third 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, Capital Performance Advisors LLP purchased a new stake in TechnipFMC in the 3rd quarter worth about $56,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research reports. Evercore ISI upped their target price on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Barclays upped their price objective on shares of TechnipFMC from $37.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Susquehanna lifted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a research note on Friday, October 25th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a "buy" rating and a $38.00 price target on the stock. Finally, Piper Sandler started coverage on TechnipFMC in a research report on Thursday, December 19th. They set an "overweight" rating and a $39.00 price objective for the company. One research 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $36.15.

TechnipFMC Stock Performance

FTI stock traded down $0.29 during midday trading on Tuesday, hitting $31.57. 2,363,560 shares of the company traded hands, compared to its average volume of 3,327,106. TechnipFMC plc has a twelve month low of $18.78 and a twelve month high of $33.45. The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of 20.77 and a beta of 1.52. 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 50 day simple moving average of $30.79 and a 200-day simple moving average of $28.37.

TechnipFMC declared that its board has authorized a share buyback 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 generally an indication that the company's board of directors 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.