Flagship Harbor Advisors LLC Makes New $250,000 Investment in TechnipFMC plc (NYSE:FTI)

Flagship Harbor Advisors LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,626 shares of the oil and gas company’s stock, valued at approximately $250,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in shares of TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 735 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of TechnipFMC during the 3rd quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in shares of TechnipFMC by 59.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 693 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of TechnipFMC by 1,900.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after acquiring an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of TechnipFMC during the 3rd quarter worth about $56,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group started coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price target on the stock. TD Cowen reissued a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $36.15.

TechnipFMC Price Performance

FTI stock opened at $30.07 on Thursday. The company has a market capitalization of $12.79 billion, a PE ratio of 19.78 and a beta of 1.54. 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 stock’s 50 day moving average is $30.81 and its two-hundred day moving average is $28.19. TechnipFMC plc has a 52-week low of $18.53 and a 52-week high of $33.45.

TechnipFMC declared that its board has approved a share buyback plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.