T. Rowe Price Investment Management Reduces $431M in TechnipFMC plc ($FTI)
Key Points
- T. Rowe Price Investment Management changed its TechnipFMC plc ($FTI) stake by 27.97% last quarter, cutting to 16,734,474 shares worth $1.11 billion.
- Wall Street's consensus rating on $FTI is Buy and an average price target of $75.81.
- $FTI last traded around $66.30.
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T. Rowe Price Investment Management reduced its position in TechnipFMC plc ($FTI) by 27.97% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,734,474 shares of TechnipFMC plc after selling 6,497,539 shares during the quarter. T. Rowe Price Investment Management's holdings in TechnipFMC plc were worth $1.11 billion as of its most recent filing.
TechnipFMC plc Stock Down 12.6%
Shares of TechnipFMC plc ($FTI) traded around $66.30 on Saturday, down 12.6% for the day.
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About TechnipFMC plc
TechnipFMC plc engages in the oil and natural gas projects, technologies, 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 design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipeline systems used in oil and natural gas production and transportation. It provides subsea production systems; subsea processing systems; subsea umbilicals, risers and flowlines; vessels; drilling, installation, and intervention and plug and abandonment; maintenance, asset integrity, and production management; robotics; and subsea studio digital platform. The Surface Technologies segment designs, manufactures, and services products and systems used in land and shallow water exploration and production of oil and natural gas. This segment offers drilling; surface wellheads and production trees systems; iComplete, a pressure control system; fracturing tree systems, fracturing valve greasing systems, hydraulic or electric control units, service-less valves, fracturing manifold systems, and rigid and flexible flowlines; flexible pipes; safety and integrity systems, multiphase meter modules, in-line separation and processing systems, compact ball valves for manifolds, and standard pumps; well control and integrity systems; and skid solutions. It also offers planning, testing and installation, commissioning, operations, replacement and upgrade, maintenance, storage, preservation, intervention, integrity, decommissioning, and abandonment; and supplies flowline products and services. TechnipFMC plc was founded in 1884 and is headquartered in Newcastle upon Tyne, the United Kingdom.
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