Ninety One North America Inc. Decreases Position in TechnipFMC plc (NYSE:FTI)

Ninety One North America Inc. lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,767 shares of the oil and gas company’s stock after selling 1,280 shares during the period. Ninety One North America Inc.’s holdings in TechnipFMC were worth $3,784,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FTI. Bank of Montreal Can increased its stake in shares of TechnipFMC by 97.4% during the 2nd quarter. Bank of Montreal Can now owns 16,609 shares of the oil and gas company’s stock worth $434,000 after purchasing an additional 8,193 shares during the last quarter. Marshall Wace LLP bought a new position in TechnipFMC in the 2nd quarter worth approximately $1,390,000. Creative Planning boosted its holdings in TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after buying an additional 546 shares during the period. Sanctuary Advisors LLC bought a new position in TechnipFMC in the 2nd quarter worth approximately $210,000. Finally, GAMMA Investing LLC boosted its holdings in TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 693 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the subject of several analyst reports. Barclays raised their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada started coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. BMO Capital Markets lifted their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Finally, Bank of America lifted their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One research 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. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $36.15.

TechnipFMC Price Performance

FTI stock opened at $30.20 on Tuesday. The firm’s 50-day moving average price is $30.79 and its two-hundred day moving average price is $28.24. TechnipFMC plc has a 12-month low of $18.53 and a 12-month high of $33.45. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 19.89 and a beta of 1.52. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC declared that its board has initiated a share repurchase plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

TechnipFMC Company 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.