TechnipFMC plc $FTI Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC reduced its holdings in shares of TechnipFMC plc (NYSE:FTI) by 45.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,540 shares of the oil and gas company’s stock after selling 11,354 shares during the period. Townsquare Capital LLC’s holdings in TechnipFMC were worth $534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. lifted its stake 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 worth $26,000 after purchasing an additional 657 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in TechnipFMC by 45.3% in 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 acquiring an additional 340 shares during the last quarter. McIlrath & Eck LLC boosted its stake in TechnipFMC by 476.3% in the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,024 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of TechnipFMC during the second quarter worth about $44,000. Finally, Root Financial Partners LLC acquired a new stake in shares of TechnipFMC during the third quarter worth about $51,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

FTI opened at $55.70 on Friday. The stock has a market cap of $22.53 billion, a P/E ratio of 24.87, a P/E/G ratio of 1.09 and a beta of 0.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $56.93. The stock’s 50 day simple moving average is $48.09 and its 200 day simple moving average is $41.63.

TechnipFMC announced that its board has initiated a stock repurchase program on Wednesday, October 22nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FTI shares. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. BNP Paribas Exane set a $47.00 price objective on shares of TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Finally, Susquehanna raised their price target on TechnipFMC from $48.00 to $56.00 and gave the stock a “positive” rating in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

TechnipFMC Profile

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.