Mutual of America Capital Management LLC Makes New $7.49 Million Investment in TechnipFMC plc $FTI

Mutual of America Capital Management LLC purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 189,818 shares of the oil and gas company’s stock, valued at approximately $7,488,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in FTI. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the period. Gries Financial LLC raised its holdings in shares of TechnipFMC by 6.2% in the 3rd quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 391 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of TechnipFMC by 2.9% in the 3rd quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company’s stock worth $572,000 after purchasing an additional 408 shares during the period. Quadcap Wealth Management LLC boosted its stake in shares of TechnipFMC by 3.3% during the second quarter. Quadcap Wealth Management LLC now owns 16,256 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 521 shares in the last quarter. Finally, Ossiam increased its holdings in TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 546 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research note on Wednesday, January 7th. Citigroup boosted their price target on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Barclays raised their price objective on TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Finally, UBS Group reissued an “outperform” rating on shares of TechnipFMC in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $55.58 on Wednesday. The company has a 50 day moving average price of $47.38 and a 200 day moving average price of $41.28. The firm has a market capitalization of $22.48 billion, a P/E ratio of 24.81, a PEG ratio of 1.06 and a beta of 0.66. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $55.83.

TechnipFMC announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.