TechnipFMC (NYSE:FTI) Rating Lowered to “Hold” at StockNews.com

TechnipFMC (NYSE:FTI) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other research firms have also commented on FTI. Piper Sandler lifted their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Barclays upped their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. TD Cowen restated a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. Finally, Evercore ISI raised their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $36.31.

TechnipFMC Stock Performance

FTI traded up $0.44 during trading on Thursday, hitting $31.22. The stock had a trading volume of 4,424,897 shares, compared to its average volume of 3,753,341. The firm has a market cap of $13.13 billion, a PE ratio of 20.54 and a beta of 1.54. 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 has a 12 month low of $22.99 and a 12 month high of $33.45. The company has a 50 day simple moving average of $29.59 and a 200-day simple moving average of $28.81.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,706 shares of company stock valued at $1,651,665. 1.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds have recently made changes to their positions in FTI. Charles Schwab Investment Management Inc. grew its stake 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 worth $89,177,000 after buying an additional 219,081 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in TechnipFMC during the 3rd quarter worth approximately $393,000. Fisher Asset Management LLC grew its position in TechnipFMC by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 533,607 shares of the oil and gas company’s stock worth $13,997,000 after acquiring an additional 1,747 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in TechnipFMC by 216.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 18,905 shares of the oil and gas company’s stock valued at $496,000 after purchasing an additional 12,928 shares in the last quarter. Finally, Bank of Montreal Can raised its position in TechnipFMC by 1,630.7% in the 3rd quarter. Bank of Montreal Can now owns 287,454 shares of the oil and gas company’s stock valued at $7,347,000 after purchasing an additional 270,845 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

About TechnipFMC

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.