TechnipFMC plc (NYSE:FTI) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its position in TechnipFMC plc (NYSE:FTIGet Rating) by 48.5% in the second quarter, HoldingsChannel.com reports. The firm owned 155,512 shares of the oil and gas company’s stock after selling 146,486 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in TechnipFMC were worth $1,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp raised its stake in TechnipFMC by 52.6% during the 1st quarter. Truist Financial Corp now owns 77,746 shares of the oil and gas company’s stock valued at $602,000 after purchasing an additional 26,790 shares during the period. Kestra Advisory Services LLC raised its position in shares of TechnipFMC by 23.1% during the first quarter. Kestra Advisory Services LLC now owns 13,669 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 2,563 shares during the last quarter. Venture Visionary Partners LLC acquired a new position in TechnipFMC in the first quarter worth about $141,000. Versor Investments LP raised its position in TechnipFMC by 39.3% in the first quarter. Versor Investments LP now owns 46,098 shares of the oil and gas company’s stock worth $357,000 after purchasing an additional 12,998 shares in the last quarter. Finally, Janney Capital Management LLC increased its holdings in shares of TechnipFMC by 22.4% during the first quarter. Janney Capital Management LLC now owns 44,042 shares of the oil and gas company’s stock worth $341,000 after buying an additional 8,072 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FTI shares. Exane BNP Paribas raised shares of TechnipFMC from a “neutral” rating to an “outperform” rating in a report on Wednesday, September 21st. StockNews.com started coverage on shares of TechnipFMC in a report on Wednesday, October 12th. They set a “hold” rating for the company. BNP Paribas raised shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $14.50 price target on the stock in a research note on Wednesday, September 21st. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $13.50 price target on the stock in a research note on Tuesday, October 25th. Finally, Benchmark started coverage on shares of TechnipFMC in a research note on Wednesday, August 24th. They set a “buy” rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.37.

TechnipFMC Price Performance

Shares of FTI stock opened at $11.96 on Monday. TechnipFMC plc has a 52-week low of $5.47 and a 52-week high of $12.42. The stock has a market cap of $5.34 billion, a PE ratio of -23.92 and a beta of 1.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.27. The firm’s 50 day moving average price is $10.07 and its two-hundred day moving average price is $8.44.

TechnipFMC declared that its Board of Directors has initiated a share repurchase plan on Wednesday, July 27th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

TechnipFMC Company Profile

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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

Further Reading

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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