TechnipFMC plc (NYSE:FTI) Shares Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. increased its stake in TechnipFMC plc (NYSE:FTI) by 8.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 91,353 shares of the oil and gas company’s stock after buying an additional 6,853 shares during the period. Navellier & Associates Inc.’s holdings in TechnipFMC were worth $2,644,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FTI. Pacer Advisors Inc. acquired a new stake in shares of TechnipFMC in the third quarter worth approximately $185,643,000. Westfield Capital Management Co. LP purchased a new position in TechnipFMC in the third quarter valued at approximately $49,273,000. Jennison Associates LLC raised its stake in shares of TechnipFMC by 95.0% during the third quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after purchasing an additional 1,150,049 shares during the period. Hardman Johnston Global Advisors LLC raised its stake in shares of TechnipFMC by 13.5% during 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 purchasing an additional 1,071,103 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of TechnipFMC by 50.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock valued at $66,842,000 after purchasing an additional 773,000 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FTI shares. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Barclays raised their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group began coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price target for the company. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, October 29th. One 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. Based on data from MarketBeat, TechnipFMC currently has an average rating of “Buy” and a consensus target price of $36.15.

TechnipFMC Stock Down 4.7 %

TechnipFMC stock opened at $29.06 on Friday. The company has a 50-day simple moving average of $30.71 and a 200-day simple moving average of $28.49. The firm has a market capitalization of $12.36 billion, a P/E ratio of 19.12 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a one year low of $20.04 and a one year 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.