Lingohr Asset Management GmbH Acquires 174,500 Shares of TechnipFMC plc $FTI

Lingohr Asset Management GmbH raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 461.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,295 shares of the oil and gas company’s stock after buying an additional 174,500 shares during the period. TechnipFMC comprises 2.0% of Lingohr Asset Management GmbH’s portfolio, making the stock its 11th largest holding. Lingohr Asset Management GmbH owned 0.05% of TechnipFMC worth $8,375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. increased its stake in shares of TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in TechnipFMC in the second quarter worth about $44,000. McIlrath & Eck LLC raised its stake in shares of TechnipFMC by 476.3% in the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,024 shares during the period. Finally, Root Financial Partners LLC purchased a new position in shares of TechnipFMC during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Down 0.4%

Shares of FTI stock opened at $55.70 on Friday. The company’s fifty day simple moving average is $48.09 and its two-hundred day simple moving average is $41.63. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $56.93. The stock has a market cap of $22.53 billion, a P/E ratio of 24.87, a PEG ratio of 1.09 and a beta of 0.66. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

TechnipFMC declared that its board has approved a share repurchase plan on Wednesday, October 22nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Susquehanna raised their target price on shares of TechnipFMC from $48.00 to $56.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada lifted their target price on shares of TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. BNP Paribas Exane set a $47.00 price objective on TechnipFMC and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, Barclays upped their price objective on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

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.