California Public Employees Retirement System Lowers Position in TechnipFMC plc (NYSE:FTI)

California Public Employees Retirement System decreased its position in shares of TechnipFMC plc (NYSE:FTIGet Rating) by 6.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 939,454 shares of the oil and gas company’s stock after selling 60,962 shares during the period. California Public Employees Retirement System owned about 0.21% of TechnipFMC worth $6,323,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC grew its stake in TechnipFMC by 773.8% in the second quarter. JFS Wealth Advisors LLC now owns 3,836 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 3,397 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of TechnipFMC in the 2nd quarter worth about $28,000. Zions Bancorporation N.A. bought a new position in shares of TechnipFMC in the 1st quarter worth about $58,000. FirstPurpose Wealth LLC bought a new position in shares of TechnipFMC in the 2nd quarter worth about $75,000. Finally, Capital Advisors Inc. OK purchased a new position in TechnipFMC during the 1st quarter valued at about $78,000. Institutional investors own 93.11% of the company’s stock.

Analysts Set New Price Targets

FTI has been the subject of a number of analyst reports. StockNews.com assumed coverage on shares of TechnipFMC in a research note on Wednesday, October 12th. They set a “hold” rating for the company. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $13.50 target price on the stock in a report on Tuesday, October 25th. Benchmark assumed coverage on TechnipFMC in a research note on Wednesday, August 24th. They issued a “buy” rating and a $12.00 target price on the stock. BNP Paribas raised TechnipFMC from a “neutral” rating to an “outperform” rating and set a $14.50 price target for the company in a research report on Wednesday, September 21st. Finally, Citigroup increased their price objective on shares of TechnipFMC to $12.40 in a research report on Tuesday, November 15th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.37.

TechnipFMC Stock Performance

Shares of FTI stock opened at $12.13 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. TechnipFMC plc has a 52 week low of $5.47 and a 52 week high of $12.42. The firm has a market capitalization of $5.42 billion, a PE ratio of -24.26 and a beta of 1.78. The company has a 50 day moving average price of $10.31 and a 200-day moving average price of $8.55.

About TechnipFMC

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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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