Stephens Investment Management Group LLC Sells 52,655 Shares of TechnipFMC plc (NYSE:FTI)

Stephens Investment Management Group LLC trimmed its position in TechnipFMC plc (NYSE:FTI) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,411,711 shares of the oil and gas company’s stock after selling 52,655 shares during the period. TechnipFMC comprises 1.3% of Stephens Investment Management Group LLC’s portfolio, making the stock its 14th biggest holding. Stephens Investment Management Group LLC’s holdings in TechnipFMC were worth $98,735,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FTI. Triasima Portfolio Management inc. purchased a new position in TechnipFMC during the fourth quarter valued at $236,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of TechnipFMC by 1.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 413,754 shares of the oil and gas company’s stock valued at $11,974,000 after buying an additional 6,116 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of TechnipFMC by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 357 shares during the period. Ninety One UK Ltd increased its holdings in TechnipFMC by 69.7% in the 4th quarter. Ninety One UK Ltd now owns 813,016 shares of the oil and gas company’s stock worth $23,529,000 after acquiring an additional 333,897 shares in the last quarter. Finally, SYM FINANCIAL Corp bought a new stake in TechnipFMC during the 4th quarter worth approximately $205,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 0.1 %

Shares of NYSE:FTI opened at $30.81 on Friday. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 20.27 and a beta of 1.52. TechnipFMC plc has a 12 month low of $18.78 and a 12 month high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $30.78 and a 200 day moving average price of $28.32.

TechnipFMC declared that its board has approved a stock repurchase program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FTI. Evercore ISI upped their price target 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. Piper Sandler initiated coverage on TechnipFMC in a research note on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price target for the company. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. One 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. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and an average price target of $36.15.

TechnipFMC Company 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.