Allspring Global Investments Holdings LLC Acquires 48,322 Shares of TechnipFMC plc (NYSE:FTI)

Allspring Global Investments Holdings LLC increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 521.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,592 shares of the oil and gas company’s stock after purchasing an additional 48,322 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TechnipFMC were worth $1,703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FTI. Franklin Resources Inc. raised its holdings in TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after purchasing an additional 679,748 shares during the period. Park Avenue Securities LLC bought a new stake in shares of TechnipFMC in the 4th quarter valued at $519,000. Sumitomo Mitsui Trust Group Inc. raised its stake in TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after buying an additional 369,594 shares during the period. ING Groep NV lifted its holdings in TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after acquiring an additional 114,600 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in TechnipFMC in the third quarter valued at about $49,273,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Trading Down 4.7 %

Shares of NYSE:FTI opened at $29.06 on Friday. The stock has a market capitalization of $12.36 billion, a PE ratio of 19.12 and a beta of 1.52. The company’s 50-day moving average price is $30.71 and its two-hundred day moving average price is $28.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a one year low of $20.04 and a one year high of $33.45.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FTI. Barclays raised their price target on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada began coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Evercore ISI increased their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, TechnipFMC has a consensus rating of “Buy” and an average target price of $36.15.

TechnipFMC 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.