Hardman Johnston Global Advisors LLC Has $134.16 Million Holdings in TechnipFMC plc (NYSE:FTI)

Hardman Johnston Global Advisors LLC decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 48.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,635,791 shares of the oil and gas company’s stock after selling 4,379,920 shares during the quarter. TechnipFMC accounts for about 5.5% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 4th biggest position. Hardman Johnston Global Advisors LLC’s holdings in TechnipFMC were worth $134,160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in TechnipFMC during the 4th quarter valued at $1,376,000. TCW Group Inc. lifted its position in shares of TechnipFMC by 72.8% during the fourth quarter. TCW Group Inc. now owns 398,622 shares of the oil and gas company’s stock worth $11,536,000 after purchasing an additional 167,992 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of TechnipFMC by 352.0% during the fourth quarter. First Horizon Advisors Inc. now owns 4,027 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 3,136 shares during the period. Olympiad Research LP bought a new position in shares of TechnipFMC in the fourth quarter worth about $331,000. Finally, Sigma Planning Corp increased its stake in TechnipFMC by 3.3% in the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock worth $334,000 after buying an additional 363 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FTI. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, October 29th. Piper Sandler initiated coverage on TechnipFMC in a report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price objective on the stock. TD Cowen reaffirmed a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Barclays lifted their price objective on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. 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 company’s stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Buy” and an average price target of $36.15.

TechnipFMC Stock Down 4.7 %

Shares of TechnipFMC stock opened at $29.06 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The company has a market cap of $12.36 billion, a P/E ratio of 19.12 and a beta of 1.52. The firm’s 50 day moving average price is $30.71 and its 200-day moving average price is $28.53. TechnipFMC plc has a 52-week low of $20.04 and a 52-week high of $33.45.

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.