Fintel reports that on August 1, 2023, Kepler Cheuvreux downgraded their outlook for TechnipFMC (NYSE:FTI) from Buy to Hold.

Analyst Price Forecast Suggests 4.50% Upside

As of July 6, 2023, the average one-year price target for TechnipFMC is 19.17. The forecasts range from a low of 13.94 to a high of $24.15. The average price target represents an increase of 4.50% from its latest reported closing price of 18.34.

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The projected annual revenue for TechnipFMC is 7,468MM, an increase of 4.93%. The projected annual non-GAAP EPS is 0.52.

What is the Fund Sentiment?

There are 620 funds or institutions reporting positions in TechnipFMC. This is an increase of 50 owner(s) or 8.77% in the last quarter. Average portfolio weight of all funds dedicated to FTI is 0.46%, a decrease of 5.12%. Total shares owned by institutions decreased in the last three months by 0.03% to 529,387K shares. The put/call ratio of FTI is 0.46, indicating a bullish outlook.

What are Other Shareholders Doing?

Price T Rowe Associates holds 47,882K shares representing 10.93% ownership of the company. In it’s prior filing, the firm reported owning 58,933K shares, representing a decrease of 23.08%. The firm decreased its portfolio allocation in FTI by 15.34% over the last quarter.

Ameriprise Financial holds 20,771K shares representing 4.74% ownership of the company. In it’s prior filing, the firm reported owning 19,195K shares, representing an increase of 7.59%. The firm increased its portfolio allocation in FTI by 15.90% over the last quarter.

Jpmorgan Chase holds 18,632K shares representing 4.25% ownership of the company. In it’s prior filing, the firm reported owning 21K shares, representing an increase of 99.89%. The firm increased its portfolio allocation in FTI by 11,206.46% over the last quarter.

Hardman Johnston Global Advisors holds 17,772K shares representing 4.06% ownership of the company. In it’s prior filing, the firm reported owning 18,545K shares, representing a decrease of 4.35%. The firm decreased its portfolio allocation in FTI by 10.44% over the last quarter.

TRMCX – T. Rowe Price Mid-Cap Value Fund holds 16,537K shares representing 3.77% ownership of the company. In it’s prior filing, the firm reported owning 25,764K shares, representing a decrease of 55.80%. The firm decreased its portfolio allocation in FTI by 29.74% 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.

This article originally appeared on Fintel

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