Park Avenue Securities LLC Acquires New Stake in TechnipFMC plc (NYSE:FTI)

Park Avenue Securities LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,948 shares of the oil and gas company’s stock, valued at approximately $519,000.

Several other institutional investors also recently bought and sold shares of the company. Pallas Capital Advisors LLC boosted its stake in shares of TechnipFMC by 25.9% in the fourth quarter. Pallas Capital Advisors LLC now owns 29,011 shares of the oil and gas company’s stock valued at $840,000 after purchasing an additional 5,960 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in TechnipFMC by 2.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 38,184 shares of the oil and gas company’s stock worth $1,105,000 after buying an additional 744 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its position in TechnipFMC by 4.1% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock valued at $248,000 after buying an additional 338 shares during the period. Diversified Trust Co increased its position in shares of TechnipFMC by 68.9% during the fourth quarter. Diversified Trust Co now owns 61,281 shares of the oil and gas company’s stock worth $1,773,000 after acquiring an additional 24,989 shares during the period. Finally, Insight Wealth Strategies LLC acquired a new stake in shares of TechnipFMC in the fourth quarter valued at $4,088,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America boosted their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Evercore ISI upped their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $36.15.

TechnipFMC Stock Performance

NYSE FTI opened at $31.69 on Friday. The company has a fifty day moving average of $30.64 and a two-hundred day moving average of $28.06. The company has a market capitalization of $13.48 billion, a PE ratio of 20.85 and a beta of 1.54. TechnipFMC plc has a 1 year low of $18.53 and a 1 year high of $33.45. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. As a group, analysts expect that TechnipFMC plc will post 1.62 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

TechnipFMC Profile

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.