Wealth Enhancement Advisory Services LLC Acquires 744 Shares of TechnipFMC plc (NYSE:FTI)

Wealth Enhancement Advisory Services LLC raised its holdings in TechnipFMC plc (NYSE:FTI) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,184 shares of the oil and gas company’s stock after buying an additional 744 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TechnipFMC were worth $1,105,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Baker Tilly Wealth Management LLC lifted its stake in shares of TechnipFMC by 4.1% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock worth $248,000 after buying an additional 338 shares during the last quarter. GAMMA Investing LLC raised its holdings in TechnipFMC by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 414 shares during the period. Ballentine Partners LLC raised its holdings in TechnipFMC by 4.8% in the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock valued at $294,000 after acquiring an additional 515 shares during the period. Creative Planning lifted its position in TechnipFMC by 3.2% during the second quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after acquiring an additional 546 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of TechnipFMC by 2.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock worth $702,000 after acquiring an additional 616 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FTI has been the subject of several research reports. Evercore ISI lifted their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen reiterated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. BMO Capital Markets boosted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective for the company. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $36.15.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $32.38 on Thursday. The company has a 50 day moving average of $30.12 and a 200 day moving average of $27.79. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock has a market cap of $13.77 billion, a P/E ratio of 21.30 and a beta of 1.54. TechnipFMC plc has a 12 month low of $18.50 and a 12 month high of $33.45.

TechnipFMC (NYSE:FTI) last issued its quarterly 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 firm 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 business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 EPS. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.61 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.62%. TechnipFMC’s payout ratio is 13.16%.

TechnipFMC announced that its board has authorized a share repurchase plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board 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.