Vaughan Nelson Investment Management L.P. Boosts Stake in TechnipFMC plc (NYSE:FTI)

Vaughan Nelson Investment Management L.P. raised its holdings in TechnipFMC plc (NYSE:FTI) by 50.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,309,710 shares of the oil and gas company’s stock after acquiring an additional 773,000 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.54% of TechnipFMC worth $66,842,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Pacer Advisors Inc. purchased a new stake in TechnipFMC in the third quarter valued at approximately $185,643,000. Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at $49,273,000. Jennison Associates LLC lifted its holdings in shares of TechnipFMC by 95.0% during the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock worth $61,918,000 after acquiring an additional 1,150,049 shares during the last quarter. Hardman Johnston Global Advisors LLC grew its position in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after acquiring an additional 1,071,103 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in TechnipFMC by 68.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock worth $44,454,000 after acquiring an additional 688,622 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Cowen reaffirmed a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and boosted their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Evercore ISI increased their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Piper Sandler began coverage on shares of TechnipFMC in a report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective for the company. Finally, Bank of America increased their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $36.15.

TechnipFMC Stock Down 0.1 %

Shares of NYSE:FTI opened at $30.81 on Friday. The stock’s 50-day moving average is $30.78 and its 200 day moving average is $28.32. The company has a market cap of $13.11 billion, a PE ratio of 20.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a 1 year low of $18.78 and a 1 year high of $33.45.

TechnipFMC declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.