Navellier & Associates Inc. Increases Stake in TechnipFMC plc (NYSE:FTI)

Navellier & Associates Inc. increased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 large investors have also recently added to or reduced their stakes in FTI. Creative Planning increased its stake in TechnipFMC by 22.9% during the 3rd quarter. Creative Planning now owns 21,372 shares of the oil and gas company’s stock worth $561,000 after buying an additional 3,980 shares during the period. Blue Trust Inc. increased its stake in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares during the period. International Assets Investment Management LLC acquired a new position in TechnipFMC during the 3rd quarter worth approximately $363,000. Impact Partnership Wealth LLC acquired a new position in TechnipFMC during the 3rd quarter worth approximately $216,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in TechnipFMC during the 3rd quarter worth approximately $205,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup boosted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, October 29th. Barclays upped their target price on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada initiated coverage on shares of TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target for the company. Finally, Piper Sandler began coverage on shares of TechnipFMC in a research report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price target for the company. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $36.15.

TechnipFMC Stock Performance

Shares of FTI opened at $29.06 on Friday. The company has a market capitalization of $12.36 billion, a PE ratio of 19.12 and a beta of 1.52. TechnipFMC plc has a 52-week low of $20.04 and a 52-week high of $33.45. The company has a 50-day simple moving average of $30.71 and a 200-day simple moving average of $28.49. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

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.