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

Avior Wealth Management LLC cut its holdings in TechnipFMC plc (NYSE:FTIFree Report) by 7.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,484 shares of the oil and gas company’s stock after selling 1,072 shares during the period. Avior Wealth Management LLC’s holdings in TechnipFMC were worth $361,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after acquiring an additional 679,748 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in TechnipFMC by 971.5% in the 3rd 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 acquiring an additional 369,594 shares during the last quarter. ING Groep NV raised its holdings in TechnipFMC by 15.3% in the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock valued at $22,697,000 after acquiring an additional 114,600 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in TechnipFMC in the 3rd quarter valued at $49,273,000. Finally, Entropy Technologies LP acquired a new position in TechnipFMC in the 3rd quarter valued at $575,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

NYSE:FTI opened at $31.40 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a 50-day moving average of $30.71 and a two-hundred day moving average of $28.12. The stock has a market cap of $13.36 billion, a P/E ratio of 20.66 and a beta of 1.54. TechnipFMC plc has a 1-year low of $18.53 and a 1-year high of $33.45.

TechnipFMC (NYSE:FTIGet Free Report) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share 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 analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. On average, research analysts expect that TechnipFMC plc will post 1.62 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup upped their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Royal Bank of Canada assumed coverage on TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. TD Cowen restated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Barclays upped their price objective on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $36.15.

Check Out Our Latest Report on TechnipFMC

TechnipFMC Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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