GAMMA Investing LLC Increases Stock Position in TechnipFMC plc (NYSE:FTI)

GAMMA Investing LLC boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 22.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,272 shares of the oil and gas company’s stock after acquiring an additional 414 shares during the quarter. GAMMA Investing LLC’s holdings in TechnipFMC were worth $66,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 735 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of TechnipFMC during the 3rd quarter worth $30,000. Toth Financial Advisory Corp boosted its position in TechnipFMC by 1,900.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after purchasing an additional 1,900 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in TechnipFMC in the third quarter valued at about $56,000. Finally, True Wealth Design LLC bought a new position in TechnipFMC in the third quarter worth about $57,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $31.70 on Monday. TechnipFMC plc has a 52 week low of $18.37 and a 52 week high of $33.45. The business’s 50 day moving average price is $29.89 and its 200 day moving average price is $27.70. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm has a market cap of $13.49 billion, a P/E ratio of 20.86 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data 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. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. On average, sell-side analysts expect that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. TechnipFMC’s payout ratio is currently 13.16%.

TechnipFMC announced that its Board of Directors has approved a share repurchase program 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 reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FTI. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target on the stock. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. Citigroup upped their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Bank of America boosted their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and a consensus price target of $35.92.

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.