SG Americas Securities LLC Acquires 3,635 Shares of TechnipFMC plc (NYSE:FTI)

SG Americas Securities LLC lifted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 23.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,929 shares of the oil and gas company’s stock after acquiring an additional 3,635 shares during the period. SG Americas Securities LLC’s holdings in TechnipFMC were worth $548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. purchased a new stake in shares of TechnipFMC in the third quarter worth approximately $185,643,000. Westfield Capital Management Co. LP bought a new stake in TechnipFMC during the third quarter worth $49,273,000. Jennison Associates LLC raised its position in TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after buying an additional 1,150,049 shares during the last quarter. Hardman Johnston Global Advisors LLC lifted its stake in TechnipFMC by 13.5% during the 3rd 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, Jacobs Levy Equity Management Inc. boosted its holdings in TechnipFMC by 68.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock worth $44,454,000 after acquiring an additional 688,622 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Down 1.8 %

Shares of TechnipFMC stock opened at $30.05 on Friday. The stock has a market capitalization of $12.78 billion, a P/E ratio of 19.77 and a beta of 1.54. TechnipFMC plc has a 52-week low of $18.53 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’s 50-day simple moving average is $30.80 and its 200 day simple moving average is $28.22.

TechnipFMC declared that its board has authorized a share repurchase plan 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI increased their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. TD Cowen reaffirmed a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Piper Sandler assumed coverage on TechnipFMC in a research report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price target for the company. Finally, Bank of America boosted their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One equities 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 stock. According to MarketBeat, TechnipFMC presently has a consensus rating of “Buy” and a consensus price target of $36.15.

About TechnipFMC

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.