Atria Investments Inc Sells 12,411 Shares of TechnipFMC plc (NYSE:FTI)

Atria Investments Inc lowered its stake in TechnipFMC plc (NYSE:FTI) by 19.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,672 shares of the oil and gas company’s stock after selling 12,411 shares during the period. Atria Investments Inc’s holdings in TechnipFMC were worth $1,382,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Oak Thistle LLC raised its position in TechnipFMC by 3.2% during the second quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 421 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of TechnipFMC by 5.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock worth $246,000 after buying an additional 433 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after buying an additional 492 shares during the last quarter. Ballentine Partners LLC boosted its stake in TechnipFMC by 4.8% in the third quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock valued at $294,000 after buying an additional 515 shares in the last quarter. Finally, Creative Planning grew its position in TechnipFMC by 3.2% in the second quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after acquiring an additional 546 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on FTI. Bank of America increased their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. BMO Capital Markets raised 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. TD Cowen boosted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Citigroup increased their price target on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, TechnipFMC currently has an average rating of “Buy” and an average price target of $33.60.

TechnipFMC Stock Down 1.1 %

Shares of FTI opened at $28.18 on Friday. The company has a market capitalization of $11.99 billion, a PE ratio of 18.54 and a beta of 1.51. The stock’s 50-day moving average price is $26.54 and its two-hundred day moving average price is $26.36. 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 plc has a 12 month low of $18.33 and a 12 month high of $29.85.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business 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 business posted $0.21 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. On average, analysts anticipate that TechnipFMC plc will post 1.47 EPS for the current year.

TechnipFMC announced that its Board of Directors has approved a stock repurchase plan 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 reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.71%. TechnipFMC’s payout ratio is 13.16%.

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.