TechnipFMC plc (NYSE:FTI) Position Decreased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 15.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,270 shares of the oil and gas company’s stock after selling 3,111 shares during the period. Janney Montgomery Scott LLC’s holdings in TechnipFMC were worth $500,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FTI. Hardman Johnston Global Advisors LLC lifted its stake in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after acquiring an additional 1,071,103 shares during the last quarter. State Street Corp increased its position in TechnipFMC by 1.7% during 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 acquiring an additional 133,775 shares during the period. Pacer Advisors Inc. bought a new stake in TechnipFMC in the 3rd quarter valued at $185,643,000. Franklin Resources Inc. increased its holdings in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in TechnipFMC by 6.9% in the 3rd 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 buying an additional 219,081 shares during the period. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FTI. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada began coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. Citigroup upped their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and upped their price target for the company from $29.00 to $40.00 in a research note on Friday, December 6th. 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. Based on data from MarketBeat, TechnipFMC currently has an average rating of “Buy” and an average price target of $36.15.

TechnipFMC Stock Performance

Shares of FTI stock opened at $30.81 on Monday. The business’s 50-day moving average price is $30.78 and its 200-day moving average price is $28.33. TechnipFMC plc has a 12 month low of $18.78 and a 12 month high of $33.45. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 20.27 and a beta of 1.52. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC announced that its Board of Directors has authorized a share buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.