Navellier & Associates Inc. Increases Stock Holdings in TechnipFMC plc (NYSE:FTI)

Navellier & Associates Inc. raised its holdings in TechnipFMC plc (NYSE:FTI) by 0.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 84,500 shares of the oil and gas company’s stock after acquiring an additional 786 shares during the period. Navellier & Associates Inc.’s holdings in TechnipFMC were worth $2,216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James & Associates grew its holdings in shares of TechnipFMC by 12.0% during the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock worth $8,875,000 after purchasing an additional 36,326 shares during the period. Atria Investments Inc purchased a new stake in shares of TechnipFMC during the first quarter worth about $1,684,000. 1832 Asset Management L.P. raised its position in shares of TechnipFMC by 70.6% in the 1st 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 in the last quarter. ING Groep NV boosted its stake in TechnipFMC by 15.3% during 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. Finally, Bayesian Capital Management LP acquired a new position in TechnipFMC in the first quarter worth about $1,421,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.9 %

NYSE:FTI opened at $29.02 on Thursday. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 19.09 and a beta of 1.51. 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 plc has a 12 month low of $18.33 and a 12 month high of $29.85. The company’s 50 day moving average is $26.84 and its 200-day moving average is $26.42.

TechnipFMC (NYSE:FTI) 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 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 company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business earned $0.21 earnings per share. TechnipFMC’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities analysts anticipate that TechnipFMC plc will post 1.55 EPS for the current year.

TechnipFMC declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

Analyst Ratings Changes

A number of brokerages have weighed in on FTI. Citigroup increased their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets increased 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. Bank of America raised their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada assumed coverage on TechnipFMC in a report on Monday. They issued an “outperform” rating and a $37.00 target price on the stock. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, TechnipFMC 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.