Cookson Peirce & Co. Inc. Invests $26.57 Million in TechnipFMC plc $FTI

Cookson Peirce & Co. Inc. bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 673,432 shares of the oil and gas company’s stock, valued at approximately $26,567,000. Cookson Peirce & Co. Inc. owned approximately 0.17% of TechnipFMC as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC lifted its stake in TechnipFMC by 38.0% during the third quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock valued at $7,243,000 after purchasing an additional 50,593 shares during the last quarter. Lingohr Asset Management GmbH increased its holdings in shares of TechnipFMC by 461.7% in the third quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock valued at $8,375,000 after buying an additional 174,500 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of TechnipFMC by 80.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after acquiring an additional 1,415,621 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of TechnipFMC by 8.4% during the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock worth $12,053,000 after acquiring an additional 23,600 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of TechnipFMC by 13.8% in the 2nd quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock worth $342,279,000 after acquiring an additional 1,202,713 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FTI shares. UBS Group reaffirmed an “outperform” rating on shares of TechnipFMC in a report on Tuesday, October 28th. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, January 7th. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Barclays lifted their price objective on shares of TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.58.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $61.06 on Friday. The business’s 50-day simple moving average is $50.48 and its 200-day simple moving average is $43.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $62.67. The firm has a market cap of $24.70 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 1.20 and a beta of 0.69.

TechnipFMC announced that its board has authorized a stock repurchase plan on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

TechnipFMC Profile

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.