Bradley Foster & Sargent Inc. CT Has $2.67 Million Holdings in TechnipFMC plc (NYSE:FTI)

Bradley Foster & Sargent Inc. CT raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 45.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,399 shares of the oil and gas company’s stock after acquiring an additional 28,720 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in TechnipFMC were worth $2,674,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FTI. Franklin Resources Inc. grew its position 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 in the last quarter. Park Avenue Securities LLC purchased a new position in shares of TechnipFMC during the 4th quarter valued at $519,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of TechnipFMC by 971.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after acquiring an additional 369,594 shares during the last quarter. ING Groep NV raised its holdings in shares of TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after acquiring an additional 114,600 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC during the third quarter worth $49,273,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, October 29th. Piper Sandler started coverage on shares of TechnipFMC in a research note on Thursday, December 19th. They issued an “overweight” rating and a $39.00 target price for the company. TD Cowen restated a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Barclays raised their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $40.00 in a report on Friday, December 6th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TechnipFMC presently has an average rating of “Buy” and a consensus price target of $36.15.

TechnipFMC Stock Performance

NYSE FTI opened at $29.06 on Friday. The company’s fifty day moving average is $30.71 and its two-hundred day moving average is $28.49. TechnipFMC plc has a 52-week low of $20.04 and a 52-week high of $33.45. 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 firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 19.12 and a beta of 1.52.

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.