Calamos Wealth Management LLC Sells 13,608 Shares of TechnipFMC plc (NYSE:FTI)

Calamos Wealth Management LLC decreased its stake in shares of TechnipFMC plc (NYSE:FTI) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,190 shares of the oil and gas company’s stock after selling 13,608 shares during the period. Calamos Wealth Management LLC’s holdings in TechnipFMC were worth $2,002,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of 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 valued at $98,838,000 after purchasing an additional 679,748 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of 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 acquiring an additional 369,594 shares in the last quarter. ING Groep NV lifted its position in shares of TechnipFMC by 15.3% in the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after purchasing an additional 114,600 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in TechnipFMC during the third quarter worth $49,273,000. Finally, Entropy Technologies LP acquired a new stake in TechnipFMC in the 3rd quarter valued at $575,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

FTI opened at $30.16 on Tuesday. TechnipFMC plc has a 1 year low of $18.53 and a 1 year high of $33.45. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 19.84 and a beta of 1.52. The firm’s fifty day moving average price is $30.79 and its two-hundred day moving average price is $28.24. 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 announced that its board has approved a share buyback program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their price target for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Bank of America raised their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Evercore ISI lifted their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Barclays lifted their price objective on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $36.15.

About TechnipFMC

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.