8,150 Shares in TechnipFMC plc (NYSE:FTI) Bought by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. purchased a new stake in TechnipFMC plc (NYSE:FTI) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 8,150 shares of the oil and gas company’s stock, valued at approximately $236,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Baker Tilly Wealth Management LLC grew its holdings in TechnipFMC by 4.1% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 338 shares during the period. Yousif Capital Management LLC lifted its position in shares of TechnipFMC by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 357 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of TechnipFMC by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 414 shares during the period. Ballentine Partners LLC increased its holdings in shares of TechnipFMC by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 423 shares during the last quarter. Finally, Creative Planning raised its stake in TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after acquiring an additional 546 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $30.81 on Friday. 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 fifty-two week low of $18.78 and a fifty-two week high of $33.45. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 20.27 and a beta of 1.52. The stock has a fifty day moving average price of $30.78 and a 200-day moving average price of $28.32.

TechnipFMC announced that its Board of Directors has initiated a share repurchase program 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 purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on FTI shares. Evercore ISI upped their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Bank of America upped their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. TD Cowen restated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and upped their target price for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Finally, Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target 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.