StockNews.com Downgrades TechnipFMC (NYSE:FTI) to Hold

TechnipFMC (NYSE:FTI) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other equities research analysts have also recently issued reports on FTI. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Evercore ISI lifted their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Piper Sandler increased their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. TD Cowen restated a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Barclays upped their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.31.

TechnipFMC Price Performance

TechnipFMC stock opened at $31.18 on Thursday. The stock has a market capitalization of $13.11 billion, a P/E ratio of 20.51 and a beta of 1.54. The company’s fifty day moving average price is $29.56 and its 200 day moving average price is $28.86. 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 has a 1 year low of $22.99 and a 1 year high of $33.45.

Insider Activity

In other news, CAO David Light sold 10,147 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,706 shares of company stock valued at $1,651,665. 1.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds have recently bought and sold shares of FTI. Smartleaf Asset Management LLC increased its stake in shares of TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after buying an additional 525 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in TechnipFMC during the 4th quarter worth approximately $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $46,000. EverSource Wealth Advisors LLC raised its holdings in shares of TechnipFMC by 393.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 563 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.