Mitsubishi UFJ Trust & Banking Corp Sells 19,946 Shares of TechnipFMC plc $FTI

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of TechnipFMC plc (NYSE:FTI) by 24.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,412 shares of the oil and gas company’s stock after selling 19,946 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in TechnipFMC were worth $2,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its position in TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 657 shares during the period. Geneos Wealth Management Inc. raised its holdings in TechnipFMC by 45.3% in the 1st 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 period. 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. Caitong International Asset Management Co. Ltd purchased a new stake in TechnipFMC in the 2nd quarter worth approximately $44,000. Finally, Root Financial Partners LLC bought a new stake in shares of TechnipFMC during the 3rd quarter valued at $51,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI opened at $55.70 on Friday. The stock has a fifty day moving average price of $48.09 and a 200-day moving average price of $41.63. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $56.93. The firm has a market cap of $22.53 billion, a PE ratio of 24.87, a P/E/G ratio of 1.09 and a beta of 0.66.

TechnipFMC declared that its board has initiated a share repurchase 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 management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on FTI shares. Royal Bank Of Canada lifted their target price on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Wednesday, January 7th. Finally, Jefferies Financial Group raised their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One equities 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.