Acuitas Investments LLC Sells 800 Shares of TechnipFMC plc (NYSE:FTI)

Acuitas Investments LLC decreased its stake in shares of TechnipFMC plc (NYSE:FTI) by 21.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,994 shares of the oil and gas company’s stock after selling 800 shares during the quarter. Acuitas Investments LLC’s holdings in TechnipFMC were worth $87,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp raised its position in shares of TechnipFMC by 414.2% in the fourth quarter. Truist Financial Corp now owns 38,308 shares of the oil and gas company’s stock valued at $1,109,000 after purchasing an additional 30,858 shares during the period. Scarborough Advisors LLC bought a new position in TechnipFMC during the 4th quarter worth $201,000. V Square Quantitative Management LLC raised its stake in TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 563 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of TechnipFMC in the 4th quarter valued at approximately $45,000. Finally, Van ECK Associates Corp lifted its stake in TechnipFMC by 10.4% during the fourth quarter. Van ECK Associates Corp now owns 2,987,606 shares of the oil and gas company’s stock worth $86,461,000 after purchasing an additional 281,665 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

FTI stock opened at $30.30 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The company’s 50-day moving average is $30.74 and its 200-day moving average is $28.41. The stock has a market capitalization of $12.89 billion, a PE ratio of 19.93 and a beta of 1.52. TechnipFMC plc has a 1 year low of $19.23 and a 1 year high of $33.45.

TechnipFMC declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase 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 Ratings Changes

A number of equities research analysts have recently weighed in on FTI shares. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, October 29th. Royal Bank of Canada initiated coverage on TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target for the company. Evercore ISI increased their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Citigroup boosted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Piper Sandler initiated coverage on shares of TechnipFMC in a research report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price objective for the company. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price 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.