Calamos Wealth Management LLC Sells 13,608 Shares of TechnipFMC plc (NYSE:FTI)

Calamos Wealth Management LLC lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,190 shares of the oil and gas company’s stock after selling 13,608 shares during the period. Calamos Wealth Management LLC’s holdings in TechnipFMC were worth $2,002,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. increased its stake in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of TechnipFMC during the third quarter valued at approximately $30,000. GAMMA Investing LLC increased its holdings in shares of TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 693 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in TechnipFMC by 1,900.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after buying an additional 1,900 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in TechnipFMC during the third quarter valued at approximately $56,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $30.16 on Tuesday. The stock has a 50-day moving average price of $30.79 and a 200 day moving average price of $28.24. The stock has a market capitalization of $12.83 billion, a P/E ratio of 19.84 and a beta of 1.52. TechnipFMC plc has a 12-month low of $18.53 and a 12-month high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC declared that its board has authorized a share buyback plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on FTI. Barclays lifted their price objective on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. BMO Capital Markets raised their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Bank of America lifted their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price 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.