TechnipFMC plc Ordinary Share (NYSE:FTI) shares dropped 2.8% on Thursday . The company traded as low as $30.41 and last traded at $29.64. Approximately 2,085,412 shares traded hands during trading, a decline of 41% from the average daily volume of 3,544,152 shares. The stock had previously closed at $30.48.

FTI has been the topic of a number of recent analyst reports. HSBC reissued a “reduce” rating and set a $26.00 price target on shares of TechnipFMC plc Ordinary Share in a research report on Wednesday, November 15th. Goldman Sachs Group lowered shares of TechnipFMC plc Ordinary Share from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research report on Monday, November 13th. Barclays set a $28.00 price objective on shares of TechnipFMC plc Ordinary Share and gave the stock a “hold” rating in a report on Thursday, October 26th. Royal Bank of Canada restated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC plc Ordinary Share in a report on Friday, October 27th. Finally, Societe Generale started coverage on shares of TechnipFMC plc Ordinary Share in a report on Thursday, November 16th. They set a “buy” rating and a $38.00 price objective for the company. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.97.

The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Several institutional investors and hedge funds have recently bought and sold shares of FTI. First Eagle Investment Management LLC increased its stake in shares of TechnipFMC plc Ordinary Share by 10.9% in the third quarter. First Eagle Investment Management LLC now owns 33,933,562 shares of the oil and gas company’s stock worth $947,425,000 after purchasing an additional 3,347,874 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in TechnipFMC plc Ordinary Share during the third quarter valued at approximately $45,311,000. APG Asset Management N.V. grew its stake in TechnipFMC plc Ordinary Share by 26.1% during the third quarter. APG Asset Management N.V. now owns 7,257,489 shares of the oil and gas company’s stock valued at $202,629,000 after acquiring an additional 1,500,600 shares in the last quarter. BlackRock Inc. grew its stake in TechnipFMC plc Ordinary Share by 4.7% during the fourth quarter. BlackRock Inc. now owns 22,394,509 shares of the oil and gas company’s stock valued at $701,171,000 after acquiring an additional 1,013,425 shares in the last quarter. Finally, Platinum Investment Management Ltd. grew its stake in TechnipFMC plc Ordinary Share by 12.6% during the third quarter. Platinum Investment Management Ltd. now owns 7,899,200 shares of the oil and gas company’s stock valued at $220,545,000 after acquiring an additional 883,100 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “TechnipFMC plc Ordinary Share (FTI) Shares Down 2.8%” was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://www.dailypolitical.com/2018/02/10/technipfmc-plc-ordinary-share-fti-shares-down-2-8.html.

TechnipFMC plc Ordinary Share Company Profile

FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.

Receive News & Ratings for TechnipFMC plc Ordinary Share Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechnipFMC plc Ordinary Share and related companies with MarketBeat.com's FREE daily email newsletter.