Diversified Trust Co Increases Holdings in TechnipFMC plc (NYSE:FTI)

Diversified Trust Co raised its stake in TechnipFMC plc (NYSE:FTI) by 68.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,281 shares of the oil and gas company’s stock after acquiring an additional 24,989 shares during the period. Diversified Trust Co’s holdings in TechnipFMC were worth $1,773,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Insight Wealth Strategies LLC purchased a new stake in TechnipFMC during the 4th quarter valued at about $4,088,000. GAMMA Investing LLC lifted its stake in shares of TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after buying an additional 414 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of TechnipFMC by 264.1% during the third quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company’s stock valued at $755,000 after acquiring an additional 20,877 shares in the last quarter. Finally, Morse Asset Management Inc lifted its position in TechnipFMC by 1.9% in the 3rd quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company’s stock valued at $1,772,000 after acquiring an additional 1,245 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. The Goldman Sachs Group started coverage on TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price target for the company. BMO Capital Markets upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Barclays lifted their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $35.92.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $32.48 on Thursday. The stock’s fifty day moving average is $29.67 and its 200 day moving average is $27.59. TechnipFMC plc has a one year low of $18.33 and a one year high of $32.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock has a market cap of $13.82 billion, a P/E ratio of 21.37 and a beta of 1.54.

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, topping the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. Sell-side analysts anticipate that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. TechnipFMC’s payout ratio is currently 13.16%.

TechnipFMC declared that its board has authorized a share repurchase plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.