Savant Capital LLC Has $1.19 Million Stake in TechnipFMC plc (NYSE:FTI)

Savant Capital LLC lifted its stake in shares of TechnipFMC plc (NYSE:FTI) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,156 shares of the oil and gas company’s stock after acquiring an additional 1,906 shares during the quarter. Savant Capital LLC’s holdings in TechnipFMC were worth $1,191,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Hardman Johnston Global Advisors LLC grew its holdings in TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after purchasing an additional 1,071,103 shares during the last quarter. State Street Corp grew its stake in TechnipFMC by 1.7% in the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after buying an additional 133,775 shares during the last quarter. Pacer Advisors Inc. bought a new position in TechnipFMC in the 3rd quarter worth $185,643,000. Franklin Resources Inc. raised its holdings in TechnipFMC by 23.0% in 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 acquiring an additional 679,748 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in TechnipFMC by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock worth $89,177,000 after acquiring an additional 219,081 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.0 %

Shares of FTI opened at $30.30 on Friday. TechnipFMC plc has a 12 month low of $19.23 and a 12 month high of $33.45. The stock has a market cap of $12.89 billion, a price-to-earnings ratio of 19.93 and a beta of 1.52. The company has a 50-day moving average price of $30.74 and a two-hundred day moving average price of $28.41. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FTI. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Barclays raised their target price on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Evercore ISI upped their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, Royal Bank of Canada started coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 target price for the company. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.15.

TechnipFMC Profile

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.