Lingohr Asset Management GmbH Grows Stock Holdings in TechnipFMC plc $FTI

Lingohr Asset Management GmbH raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 461.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 212,295 shares of the oil and gas company’s stock after buying an additional 174,500 shares during the quarter. TechnipFMC comprises 2.0% of Lingohr Asset Management GmbH’s portfolio, making the stock its 11th largest holding. Lingohr Asset Management GmbH’s holdings in TechnipFMC were worth $8,375,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of TechnipFMC by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 124,055 shares of the oil and gas company’s stock valued at $4,894,000 after buying an additional 1,315 shares in the last quarter. Impact Partnership Wealth LLC increased its stake in TechnipFMC by 15.1% during the third quarter. Impact Partnership Wealth LLC now owns 14,563 shares of the oil and gas company’s stock worth $575,000 after acquiring an additional 1,907 shares during the last quarter. AE Wealth Management LLC raised its position in TechnipFMC by 38.0% during the third quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock valued at $7,243,000 after purchasing an additional 50,593 shares during the period. Great Lakes Advisors LLC lifted its stake in shares of TechnipFMC by 369.2% in the 3rd quarter. Great Lakes Advisors LLC now owns 61,759 shares of the oil and gas company’s stock valued at $2,436,000 after purchasing an additional 48,595 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of TechnipFMC by 8.4% in the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after purchasing an additional 23,600 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FTI has been the topic of several analyst reports. Susquehanna boosted their target price on TechnipFMC from $48.00 to $56.00 and gave the company a “positive” rating in a research report on Wednesday, January 7th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Citigroup increased their target price on shares of TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

TechnipFMC Stock Down 0.4%

NYSE:FTI opened at $55.70 on Friday. The company has a market cap of $22.53 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.66. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $56.93. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $48.09 and a 200-day simple moving average of $41.63.

TechnipFMC declared that its Board of Directors has approved a share buyback program on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 13.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.