Fintel reports that on December 5, 2024, Jefferies upgraded their outlook for TechnipFMC (NYSE:FTI) from Hold to Buy.
Analyst Price Forecast Suggests 2.23% Upside
As of December 2, 2024, the average one-year price target for TechnipFMC is $32.66/share. The forecasts range from a low of $8.58 to a high of $38.85. The average price target represents an increase of 2.23% from its latest reported closing price of $31.95 / share.
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The projected annual revenue for TechnipFMC is 8,214MM, a decrease of 6.62%. The projected annual non-GAAP EPS is 0.81.
What is the Fund Sentiment?
There are 978 funds or institutions reporting positions in TechnipFMC. This is an increase of 20 owner(s) or 2.09% in the last quarter. Average portfolio weight of all funds dedicated to FTI is 0.41%, an increase of 6.42%. Total shares owned by institutions increased in the last three months by 0.15% to 502,694K shares. 
The put/call ratio of FTI is 0.22, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 56,931K shares representing 13.38% ownership of the company. In its prior filing, the firm reported owning 49,640K shares , representing an increase of 12.81%. The firm decreased its portfolio allocation in FTI by 44.74% over the last quarter.
T. Rowe Price Investment Management holds 41,801K shares representing 9.83% ownership of the company. In its prior filing, the firm reported owning 39,988K shares , representing an increase of 4.34%. The firm increased its portfolio allocation in FTI by 0.18% over the last quarter.
Jpmorgan Chase holds 21,856K shares representing 5.14% ownership of the company. In its prior filing, the firm reported owning 23,262K shares , representing a decrease of 6.43%. The firm decreased its portfolio allocation in FTI by 94.11% over the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 20,921K shares representing 4.92% ownership of the company. In its prior filing, the firm reported owning 17,921K shares , representing an increase of 14.34%. The firm increased its portfolio allocation in FTI by 19.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,910K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 12,869K shares , representing an increase of 0.32%. The firm decreased its portfolio allocation in FTI by 5.48% over the last quarter.
TechnipFMC Background Information
(This description is provided by the company.)
With approximately 21,000 employees, TechnipFMC would be the largest diversified pure play in the industry. The Company's role will be to support clients in the delivery of unique, integrated production solutions. TechnipFMC will continue to transform the industry through its pioneering integrated delivery model - iEPCI™, technology leadership and digital innovation.
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This story originally appeared on Fintel.
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