GAMMA Investing LLC Acquires 414 Shares of TechnipFMC plc (NYSE:FTI)

GAMMA Investing LLC increased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 22.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,272 shares of the oil and gas company’s stock after purchasing an additional 414 shares during the quarter. GAMMA Investing LLC’s holdings in TechnipFMC were worth $66,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new position in shares of TechnipFMC during the third quarter valued at about $185,643,000. Westfield Capital Management Co. LP bought a new position in TechnipFMC during the third quarter valued at approximately $49,273,000. Jennison Associates LLC grew its holdings in TechnipFMC by 95.0% during the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after buying an additional 1,150,049 shares in the last quarter. Anomaly Capital Management LP increased its stake in TechnipFMC by 50.3% in the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock worth $89,429,000 after acquiring an additional 1,144,087 shares during the last quarter. Finally, Hardman Johnston Global Advisors LLC raised its holdings in shares of TechnipFMC by 13.5% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after acquiring an additional 1,071,103 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Down 2.6 %

Shares of FTI opened at $31.70 on Monday. The firm has a market capitalization of $13.49 billion, a P/E ratio of 20.86 and a beta of 1.54. TechnipFMC plc has a 12-month low of $18.37 and a 12-month high of $33.45. The firm has a fifty day moving average price of $29.89 and a 200-day moving average price of $27.70. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. Equities research analysts expect that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FTI shares. Citigroup raised their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group started coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Piper Sandler began coverage on shares of TechnipFMC in a report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price target for the company. Barclays lifted their price target on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, TD Cowen restated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC currently has an average rating of “Buy” and a consensus target price of $35.92.

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.