Acuitas Investments LLC Reduces Stake in TechnipFMC plc (NYSE:FTI)

Acuitas Investments LLC lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 21.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,994 shares of the oil and gas company’s stock after selling 800 shares during the quarter. Acuitas Investments LLC’s holdings in TechnipFMC were worth $87,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Hardman Johnston Global Advisors LLC raised its stake in shares of 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 buying an additional 1,071,103 shares during the period. State Street Corp increased its holdings in TechnipFMC by 1.7% in the 3rd 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 last quarter. Pacer Advisors Inc. bought a new stake in TechnipFMC in the 3rd quarter valued at about $185,643,000. Franklin Resources Inc. lifted its holdings in TechnipFMC by 23.0% during the third 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position 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 purchasing an additional 219,081 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

FTI opened at $30.30 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $30.74 and its 200 day simple moving average is $28.41. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 19.93 and a beta of 1.52. TechnipFMC plc has a 1 year low of $19.23 and a 1 year high of $33.45.

TechnipFMC announced that its board has authorized a stock buyback plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FTI shares. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their price target for the company from $29.00 to $40.00 in a research report on Friday, December 6th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, October 29th. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. TD Cowen reissued a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Susquehanna lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $36.15.

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.