TechnipFMC plc (NYSE:FTI) Shares Acquired by Creative Planning

Creative Planning lifted its stake in shares of TechnipFMC plc (NYSE:FTI) by 22.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,372 shares of the oil and gas company’s stock after acquiring an additional 3,980 shares during the quarter. Creative Planning’s holdings in TechnipFMC were worth $561,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. acquired a new position in shares of TechnipFMC during the first quarter valued at approximately $965,000. Atria Investments Inc acquired a new position in shares of TechnipFMC during the first quarter valued at approximately $1,684,000. Raymond James & Associates increased its stake in shares of TechnipFMC by 12.0% during the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock valued at $8,875,000 after acquiring an additional 36,326 shares during the period. 1832 Asset Management L.P. increased its stake in shares of TechnipFMC by 70.6% during the first quarter. 1832 Asset Management L.P. now owns 54,735 shares of the oil and gas company’s stock valued at $1,374,000 after acquiring an additional 22,645 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in shares of TechnipFMC during the first quarter valued at approximately $1,421,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 1.0 %

Shares of FTI stock opened at $26.65 on Wednesday. The firm has a fifty day moving average of $26.12 and a 200-day moving average of $26.21. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $29.85. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 17.53 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last announced its quarterly 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. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 earnings per share. As a group, equities research analysts predict that TechnipFMC plc will post 1.42 earnings per share for the current fiscal year.

TechnipFMC announced that its board has approved a stock 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 often an indication that the company’s board of directors believes its shares are undervalued.

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 $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is currently 13.16%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FTI shares. Bank of America raised their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Citigroup lifted their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Finally, HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.