TechnipFMC plc (NYSE:FTI) Shares Acquired by Avior Wealth Management LLC

Avior Wealth Management LLC boosted its stake in TechnipFMC plc (NYSE:FTI) by 4,558.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,556 shares of the oil and gas company’s stock after buying an additional 13,265 shares during the period. Avior Wealth Management LLC’s holdings in TechnipFMC were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Raymond James & Associates increased its position in TechnipFMC by 12.0% in the 2nd 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. Atria Investments Inc bought a new position in shares of TechnipFMC in the first quarter worth $1,684,000. 1832 Asset Management L.P. increased its holdings 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 purchasing an additional 22,645 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of TechnipFMC by 971.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after purchasing an additional 369,594 shares in the last quarter. Finally, ING Groep NV lifted its holdings in TechnipFMC by 15.3% in the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after purchasing an additional 114,600 shares during the period. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Up 2.7 %

Shares of NYSE FTI opened at $30.83 on Friday. The business has a fifty day simple moving average of $27.10 and a 200-day simple moving average of $26.48. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 20.28 and a beta of 1.51. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $30.91. 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 (NYSE:FTI) last posted its quarterly earnings data 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 company had revenue of $2.35 billion during 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 quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. Sell-side analysts predict that TechnipFMC plc will post 1.55 EPS for the current year.

TechnipFMC declared that its Board of Directors has authorized a share 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 buy up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.65%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

Wall Street Analyst Weigh In

FTI has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Bank of America boosted their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. TD Cowen boosted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets raised their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $33.91.

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.