Peregrine Capital Management LLC Raises Stock Holdings in TechnipFMC plc (NYSE:FTI)

Peregrine Capital Management LLC raised its stake in TechnipFMC plc (NYSE:FTI) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 356,978 shares of the oil and gas company’s stock after purchasing an additional 6,426 shares during the period. Peregrine Capital Management LLC owned 0.08% of TechnipFMC worth $10,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in FTI. Pacer Advisors Inc. purchased a new stake in TechnipFMC during the third quarter valued at approximately $185,643,000. Westfield Capital Management Co. LP acquired a new stake in TechnipFMC in the third quarter worth about $49,273,000. Jennison Associates LLC grew its stake in shares of TechnipFMC by 95.0% during the third quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock worth $61,918,000 after acquiring an additional 1,150,049 shares during the last quarter. Hardman Johnston Global Advisors LLC increased its holdings in shares of TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after acquiring an additional 1,071,103 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of TechnipFMC by 50.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock valued at $66,842,000 after purchasing an additional 773,000 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen restated a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective on the stock. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Barclays increased their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $36.15.

TechnipFMC Stock Up 0.0 %

FTI stock opened at $30.30 on Tuesday. The firm’s fifty day moving average is $30.74 and its 200 day moving average is $28.41. The firm has a market cap of $12.89 billion, a PE ratio of 19.93 and a beta of 1.52. TechnipFMC plc has a one year low of $19.23 and a one year high of $33.45. 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 declared that its board has authorized a share repurchase program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

TechnipFMC 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.