State of New Jersey Common Pension Fund D Purchases 94,769 Shares of TechnipFMC plc (NYSE:FTI)

State of New Jersey Common Pension Fund D raised its stake in shares of TechnipFMC plc (NYSE:FTIFree Report) by 33.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 380,310 shares of the oil and gas company’s stock after buying an additional 94,769 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in TechnipFMC were worth $7,736,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FTI. Raymond James & Associates raised its stake in TechnipFMC by 18.6% during the first quarter. Raymond James & Associates now owns 266,995 shares of the oil and gas company’s stock valued at $2,069,000 after buying an additional 41,955 shares during the last quarter. Bank of Montreal Can raised its stake in TechnipFMC by 334.1% during the first quarter. Bank of Montreal Can now owns 49,994 shares of the oil and gas company’s stock valued at $388,000 after buying an additional 38,477 shares during the last quarter. BlackRock Inc. raised its stake in TechnipFMC by 11.6% during the first quarter. BlackRock Inc. now owns 9,915,455 shares of the oil and gas company’s stock valued at $76,845,000 after buying an additional 1,029,472 shares during the last quarter. Yousif Capital Management LLC purchased a new position in TechnipFMC during the first quarter valued at $172,000. Finally, Sei Investments Co. raised its stake in shares of TechnipFMC by 93.5% in the first quarter. Sei Investments Co. now owns 258,480 shares of the oil and gas company’s stock worth $1,989,000 after purchasing an additional 124,906 shares during the last quarter. Hedge funds and other institutional investors own 98.79% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI opened at $19.14 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.19 and a debt-to-equity ratio of 0.32. TechnipFMC plc has a one year low of $12.04 and a one year high of $22.78. The business has a fifty day moving average of $19.54 and a 200 day moving average of $19.88.

Wall Street Analyst Weigh In

FTI has been the subject of several recent analyst reports. BNP Paribas cut TechnipFMC from an “outperform” rating to a “neutral” rating and set a $23.50 price target for the company. in a research note on Monday, November 6th. Barclays boosted their price target on TechnipFMC from $24.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Finally, ATB Capital set a $30.00 price target on TechnipFMC and gave the stock an “outperform” rating in a research note on Friday, December 22nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.86.

Read Our Latest Analysis on FTI

About TechnipFMC

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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