Vaughan Nelson Investment Management L.P. Buys 773,000 Shares of TechnipFMC plc (NYSE:FTI)

Vaughan Nelson Investment Management L.P. increased its position in TechnipFMC plc (NYSE:FTI - Free Report) by 50.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,309,710 shares of the oil and gas company's stock after purchasing an additional 773,000 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.54% of TechnipFMC worth $66,842,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FTI. Baker Tilly Wealth Management LLC boosted its stake in TechnipFMC by 4.1% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company's stock worth $248,000 after purchasing an additional 338 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of TechnipFMC by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company's stock valued at $236,000 after buying an additional 357 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of TechnipFMC by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock valued at $66,000 after purchasing an additional 414 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of TechnipFMC by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company's stock valued at $337,000 after purchasing an additional 423 shares in the last quarter. Finally, Creative Planning raised its position in TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company's stock worth $455,000 after purchasing an additional 546 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Down 3.1 %

NYSE FTI traded down $0.98 on Wednesday, reaching $30.62. The company had a trading volume of 3,015,986 shares, compared to its average volume of 3,315,994. The company's fifty day moving average is $30.78 and its 200-day moving average is $28.39. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 20.14 and a beta of 1.52. 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 1-year low of $18.78 and a 1-year high of $33.45.

TechnipFMC announced that its board has approved a stock buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Susquehanna raised their price target on TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a report on Friday, October 25th. Jefferies Financial Group raised shares of TechnipFMC from a "hold" rating to a "buy" rating and raised their target price for the company from $29.00 to $40.00 in a research note on Friday, December 6th. 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 target for the company. Citigroup raised their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group began coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 target price for the company. One 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 company. According to data from MarketBeat.com, the company has a consensus 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.