SYM FINANCIAL Corp Invests $205,000 in TechnipFMC plc (NYSE:FTI)

SYM FINANCIAL Corp acquired a new stake in TechnipFMC plc (NYSE:FTI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,083 shares of the oil and gas company’s stock, valued at approximately $205,000.

Several other institutional investors have also added to or reduced their stakes in the company. Hardman Johnston Global Advisors LLC raised its holdings in shares of TechnipFMC by 13.5% during the 3rd 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 buying an additional 1,071,103 shares in the last quarter. State Street Corp raised its stake 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 in the last quarter. Pacer Advisors Inc. bought a new position in shares of TechnipFMC in the third quarter worth about $185,643,000. Franklin Resources Inc. boosted its stake in shares of 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 purchasing an additional 679,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of TechnipFMC by 6.9% during 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 purchasing an additional 219,081 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FTI. Citigroup boosted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays upped their target price on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Piper Sandler started coverage on TechnipFMC in a research note on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and an average price target of $36.15.

TechnipFMC Price Performance

FTI stock opened at $30.05 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’s fifty day simple moving average is $30.80 and its 200 day simple moving average is $28.23. TechnipFMC plc has a 12-month low of $18.53 and a 12-month high of $33.45. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 19.77 and a beta of 1.54.

TechnipFMC announced that its board has approved a stock repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors 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.