Ieq Capital LLC Grows Stake in TechnipFMC plc (NYSE:FTI)

Ieq Capital LLC boosted its position in shares of TechnipFMC plc (NYSE:FTI) by 971.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 292,871 shares of the oil and gas company’s stock after purchasing an additional 265,546 shares during the quarter. Ieq Capital LLC’s holdings in TechnipFMC were worth $8,476,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after buying an additional 679,748 shares during the last quarter. Park Avenue Securities LLC purchased a new position in TechnipFMC during the 4th quarter valued at about $519,000. Sumitomo Mitsui Trust Group Inc. raised its position in TechnipFMC by 971.5% during 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 lifted its holdings in shares of TechnipFMC by 15.3% in the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock valued at $22,697,000 after purchasing an additional 114,600 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of TechnipFMC in the third quarter valued at approximately $49,273,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FTI has been the subject of several research reports. Evercore ISI lifted their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Piper Sandler assumed coverage on TechnipFMC in a report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price target for the company. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 29th. TD Cowen reiterated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada started coverage on shares of TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price on the stock. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $36.15.

TechnipFMC Price Performance

FTI opened at $30.49 on Friday. TechnipFMC plc has a 1 year low of $19.85 and a 1 year high of $33.45. The company’s 50 day simple moving average is $30.75 and its 200 day simple moving average is $28.47. The stock has a market capitalization of $12.97 billion, a PE ratio of 20.06 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

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.