Van ECK Associates Corp Grows Stock Holdings in TechnipFMC plc (NYSE:FTI)

Van ECK Associates Corp boosted its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,987,606 shares of the oil and gas company's stock after buying an additional 281,665 shares during the quarter. Van ECK Associates Corp owned approximately 0.70% of TechnipFMC worth $86,461,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted 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 worth $29,000 after purchasing an additional 735 shares during the period. 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 purchasing an additional 693 shares during the period. Toth Financial Advisory Corp boosted its position in shares of TechnipFMC by 1,900.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company's stock worth $52,000 after purchasing an additional 1,900 shares during the period. Capital Performance Advisors LLP bought a new position in shares of TechnipFMC in the third quarter worth approximately $56,000. Finally, True Wealth Design LLC bought a new position in shares of TechnipFMC in the third quarter worth approximately $57,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Up 0.0 %

Shares of NYSE FTI traded up $0.02 during mid-day trading on Monday, reaching $30.30. The company had a trading volume of 4,087,906 shares, compared to its average volume of 3,191,384. The business's 50-day moving average is $30.74 and its 200-day moving average is $28.41. 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 stock has a market cap of $12.89 billion, a price-to-earnings ratio of 19.93 and a beta of 1.52. TechnipFMC plc has a 52 week low of $19.23 and a 52 week high of $33.45.

TechnipFMC declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FTI shares. Piper Sandler started coverage on shares of TechnipFMC in a research report on Thursday, December 19th. They issued an "overweight" rating and a $39.00 price target for the company. Citigroup upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. HSBC upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a research report on Tuesday, October 29th. Barclays boosted their target price on shares of TechnipFMC from $37.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, Evercore ISI boosted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC has an average rating of "Buy" and an average price target 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.