TCW Group Inc. Raises Stock Holdings in TechnipFMC plc (NYSE:FTI)

TCW Group Inc. raised its position in shares of TechnipFMC plc (NYSE:FTI) by 72.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 398,622 shares of the oil and gas company’s stock after purchasing an additional 167,992 shares during the quarter. TCW Group Inc. owned 0.09% of TechnipFMC worth $11,536,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Hardman Johnston Global Advisors LLC raised its holdings in shares of TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after purchasing an additional 1,071,103 shares during the last quarter. State Street Corp boosted its stake in shares of TechnipFMC by 1.7% in the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after buying an additional 133,775 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in TechnipFMC during the third quarter worth about $185,643,000. Franklin Resources Inc. grew its holdings in TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after acquiring an additional 679,748 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in TechnipFMC by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock valued at $89,177,000 after acquiring an additional 219,081 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Evercore ISI raised their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $36.15.

TechnipFMC Price Performance

TechnipFMC stock opened at $29.06 on Monday. The company has a fifty day simple moving average of $30.71 and a 200-day simple moving average of $28.53. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 19.12 and a beta of 1.52. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 52-week low of $20.04 and a 52-week high of $33.45.

TechnipFMC 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.