Stephens Investment Management Group LLC Lowers Stock Holdings in TechnipFMC plc (NYSE:FTI)

Stephens Investment Management Group LLC reduced its position in TechnipFMC plc (NYSE:FTI) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,411,711 shares of the oil and gas company’s stock after selling 52,655 shares during the quarter. TechnipFMC accounts for about 1.3% of Stephens Investment Management Group LLC’s holdings, making the stock its 14th largest holding. Stephens Investment Management Group LLC owned approximately 0.80% of TechnipFMC worth $98,735,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after purchasing an additional 679,748 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of TechnipFMC by 971.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after acquiring an additional 369,594 shares during the period. ING Groep NV raised its stake in shares of TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock valued at $22,697,000 after acquiring an additional 114,600 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of TechnipFMC in the third quarter worth about $49,273,000. Finally, Entropy Technologies LP purchased a new position in TechnipFMC during the 3rd quarter valued at about $575,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 0.1 %

Shares of TechnipFMC stock opened at $30.81 on Friday. The company has a 50-day simple moving average of $30.78 and a two-hundred day simple moving average of $28.32. TechnipFMC plc has a 52-week low of $18.78 and a 52-week 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. The stock has a market capitalization of $13.11 billion, a PE ratio of 20.27 and a beta of 1.52.

TechnipFMC announced that its board has approved a share buyback 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 buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

FTI has been the topic of a number of recent analyst reports. Piper Sandler began coverage on TechnipFMC in a research report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective on the stock. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Barclays boosted their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America lifted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Evercore ISI increased their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Buy” and a consensus target price of $36.15.

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.