Truist Financial Corp Has $751,000 Stock Holdings in TechnipFMC plc (NYSE:FTI)

Truist Financial Corp raised its holdings in shares of TechnipFMC plc (NYSE:FTIGet Rating) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,756 shares of the oil and gas company’s stock after purchasing an additional 7,618 shares during the quarter. Truist Financial Corp’s holdings in TechnipFMC were worth $751,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its holdings in TechnipFMC by 773.8% during the 2nd quarter. JFS Wealth Advisors LLC now owns 3,836 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 3,397 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in TechnipFMC during the second quarter worth about $28,000. Wipfli Financial Advisors LLC acquired a new stake in TechnipFMC in the 3rd quarter worth about $37,000. Allworth Financial LP boosted its holdings in TechnipFMC by 35.7% in the 3rd quarter. Allworth Financial LP now owns 4,987 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 1,313 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of TechnipFMC by 65.1% during the 2nd quarter. Captrust Financial Advisors now owns 7,461 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 2,943 shares in the last quarter. Institutional investors and hedge funds own 94.52% of the company’s stock.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $13.03 on Friday. TechnipFMC plc has a fifty-two week low of $5.47 and a fifty-two week high of $13.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.00. The firm has a market capitalization of $5.82 billion, a P/E ratio of -26.06 and a beta of 1.76. The company’s 50 day moving average price is $12.10 and its two-hundred day moving average price is $9.90.

TechnipFMC (NYSE:FTIGet Rating) last issued its earnings results on Wednesday, October 26th. The oil and gas company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). TechnipFMC had a negative net margin of 3.46% and a negative return on equity of 1.42%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.75 billion. On average, equities analysts forecast that TechnipFMC plc will post 0.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

FTI has been the topic of several recent research reports. Citigroup raised their target price on shares of TechnipFMC to $12.40 in a report on Tuesday, November 15th. Piper Sandler raised their target price on shares of TechnipFMC from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 18th. Benchmark initiated coverage on shares of TechnipFMC in a report on Thursday. They set a “buy” rating and a $15.00 target price on the stock. StockNews.com initiated coverage on shares of TechnipFMC in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $13.50 target price on the stock in a report on Tuesday, October 25th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.95.

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.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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