HSBC Elevates TechnipFMC to ‘Buy’ as Institutional Interest Grows

On October 29, 2024, HSBC made a significant decision, upgrading their rating for TechnipFMC (BRSE: FTI) from Hold to Buy.

Fund Sentiment on the Rise

A total of 961 funds or institutions are currently invested in TechnipFMC, marking an increase of 35 owners or 3.78% in the last quarter. The average portfolio allocation to FTI across these funds stands at 0.43%, which is up by 5.21%. However, total shares held by institutions have seen a decline over the last three months, decreasing by 1.49% to 496,154K shares.

Insights from Other Shareholders

Price T Rowe Associates now owns 49,640K shares, accounting for 11.67% of TechnipFMC. Previously, the firm reported ownership of 40,595K shares, indicating an 18.22% increase. Additionally, its portfolio allocation in FTI rose by 24.33% last quarter.

T. Rowe Price Investment Management holds 39,988K shares, which is 9.40% ownership. Their previous reporting showed ownership of 40,496K shares, representing a slight decline of 1.27%. Nevertheless, this firm increased its portfolio allocation in FTI by 6.08% over the last quarter.

Meanwhile, J.P. Morgan Chase owns 23,262K shares, which means a 5.47% stake. Previously, they reported holding 24,511K shares, which is a decrease of 5.37%. Their portfolio allocation in FTI saw a drastic reduction of 84.97% last quarter.

The T. Rowe Price New Horizons Fund (PRNHX) increased its holdings to 17,921K shares, equating to 4.21% ownership, up from 13,426K shares, or a 25.08% increase. Their portfolio allocation in FTI surged by 61.76% over the last quarter.

Ameriprise Financial also slightly increased its stake, owning 14,657K shares, which is 3.45% of the company. They previously reported holdings of 14,087K shares, reflecting a small rise of 3.89%. However, their overall allocation in FTI decreased by 80.72% over the past quarter.

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This report originally appeared on Fintel.

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