Blue Trust Inc. Boosts Stock Position in TechnipFMC plc (NYSE:FTI)

Blue Trust Inc. raised its position in shares of TechnipFMC plc (NYSE:FTI) by 203.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,096 shares of the oil and gas company’s stock after purchasing an additional 735 shares during the quarter. Blue Trust Inc.’s holdings in TechnipFMC were worth $29,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FTI. Whittier Trust Co. purchased a new stake in TechnipFMC during the 1st quarter valued at about $29,000. GAMMA Investing LLC lifted its holdings in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 492 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of TechnipFMC in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new position in shares of TechnipFMC in the 2nd quarter valued at about $33,000. Finally, Crewe Advisors LLC acquired a new position in shares of TechnipFMC in the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $26.28 on Friday. The business has a 50 day simple moving average of $26.12 and a two-hundred day simple moving average of $26.19. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $29.85. The stock has a market capitalization of $11.18 billion, a P/E ratio of 17.29 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, analysts predict that TechnipFMC plc will post 1.42 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. TechnipFMC’s payout ratio is currently 13.16%.

TechnipFMC declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on FTI. BMO Capital Markets boosted their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Susquehanna boosted their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday. Finally, TD Cowen upped their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and 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 the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.