TechnipFMC plc $FTI Shares Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC raised its stake in shares of TechnipFMC plc (NYSE:FTI) by 369.2% during the third quarter, HoldingsChannel reports. The firm owned 61,759 shares of the oil and gas company’s stock after purchasing an additional 48,595 shares during the quarter. Great Lakes Advisors LLC’s holdings in TechnipFMC were worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FTI. Geneos Wealth Management Inc. raised its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Gries Financial LLC increased its holdings in TechnipFMC by 6.2% in the 3rd quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company’s stock worth $266,000 after buying an additional 391 shares during the period. SG Americas Securities LLC raised its position in TechnipFMC by 2.9% during the 3rd quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company’s stock worth $572,000 after buying an additional 408 shares during the last quarter. Quadcap Wealth Management LLC lifted its stake in TechnipFMC by 3.3% during the 2nd quarter. Quadcap Wealth Management LLC now owns 16,256 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 521 shares during the period. Finally, Ossiam boosted its holdings in shares of TechnipFMC by 52.0% in the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 546 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Down 0.4%

Shares of FTI opened at $55.70 on Friday. The company’s 50-day moving average price is $48.09 and its 200 day moving average price is $41.68. TechnipFMC plc has a 12-month low of $22.11 and a 12-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 firm has a market cap of $22.53 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.66.

TechnipFMC announced that its Board of Directors has initiated a share buyback program on Wednesday, October 22nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on FTI shares. TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, January 7th. Royal Bank Of Canada raised their price objective on shares of TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Piper Sandler boosted their target price on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.58.

TechnipFMC Company Profile

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.