Ballentine Partners LLC Purchases 515 Shares of TechnipFMC plc (NYSE:FTI)

Ballentine Partners LLC raised its stake in TechnipFMC plc (NYSE:FTI) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,223 shares of the oil and gas company’s stock after acquiring an additional 515 shares during the period. Ballentine Partners LLC’s holdings in TechnipFMC were worth $294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in TechnipFMC in the third quarter valued at approximately $30,000. Whittier Trust Co. bought a new stake in TechnipFMC in the first quarter valued at approximately $29,000. GAMMA Investing LLC lifted its position in TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares during the last quarter. Finally, ORG Partners LLC bought a new stake in TechnipFMC in the second quarter valued at approximately $33,000. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on FTI shares. Barclays boosted their price objective on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup boosted their target price on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Bank of America boosted their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Susquehanna boosted their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday. Finally, StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus target price of $31.65.

TechnipFMC Price Performance

Shares of FTI stock opened at $26.08 on Tuesday. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 23.93 and a beta of 1.50. The business’s fifty day moving average is $26.11 and its 200 day moving average is $26.17. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $29.85. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Research analysts expect that TechnipFMC plc will post 1.38 EPS for the current fiscal year.

TechnipFMC announced that its board has approved a share repurchase program on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a $0.05 dividend. 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 0.77%. TechnipFMC’s dividend payout ratio is currently 18.35%.

TechnipFMC Company 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.