TechnipFMC plc (NYSE:FTI) Shares Acquired by TCW Group Inc.

TCW Group Inc. increased its position in shares of TechnipFMC plc (NYSE:FTI) by 72.8% during the 4th quarter, HoldingsChannel reports. The fund owned 398,622 shares of the oil and gas company’s stock after acquiring an additional 167,992 shares during the quarter. TCW Group Inc.’s holdings in TechnipFMC were worth $11,536,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in 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 during the last quarter. Park Avenue Securities LLC acquired a new position in TechnipFMC in the fourth quarter valued at approximately $519,000. Sumitomo Mitsui Trust Group Inc. grew its position in 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 period. ING Groep NV increased its stake in 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 during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in TechnipFMC during the third quarter worth $49,273,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Down 4.7 %

Shares of NYSE FTI opened at $29.06 on Monday. The stock has a market cap of $12.36 billion, a P/E ratio of 19.12 and a beta of 1.52. The business’s fifty day simple moving average is $30.71 and its 200-day simple moving average is $28.53. TechnipFMC plc has a 12-month low of $20.04 and a 12-month high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup increased their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 target price for the company. 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 note on Friday, December 6th. Barclays increased their price objective 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. Finally, Evercore ISI lifted their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. One equities research 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 data from MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and an average target price of $36.15.

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.