Fisher Asset Management LLC Grows Stock Position in TechnipFMC plc (NYSE:FTI)

Fisher Asset Management LLC raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 533,607 shares of the oil and gas company’s stock after acquiring an additional 1,747 shares during the quarter. Fisher Asset Management LLC owned approximately 0.13% of TechnipFMC worth $13,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FTI. Atria Investments Inc purchased a new position in shares of TechnipFMC during the 1st quarter worth approximately $1,684,000. GAMMA Investing LLC increased its position in TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after buying an additional 492 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of TechnipFMC by 21.7% in the second quarter. Fulton Bank N.A. now owns 19,279 shares of the oil and gas company’s stock valued at $504,000 after acquiring an additional 3,432 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of TechnipFMC by 0.4% during the second quarter. SG Americas Securities LLC now owns 214,794 shares of the oil and gas company’s stock valued at $5,617,000 after acquiring an additional 916 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in TechnipFMC during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Down 0.1 %

Shares of FTI opened at $31.01 on Thursday. The stock’s 50-day moving average is $27.32 and its two-hundred day moving average is $26.53. The stock has a market cap of $13.19 billion, a PE ratio of 20.40 and a beta of 1.51. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $31.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. Equities analysts forecast that TechnipFMC plc will post 1.58 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

TechnipFMC announced that its Board of Directors has authorized a stock buyback 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 repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

FTI has been the topic of a number of recent research reports. TD Cowen restated a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a report on Wednesday. Royal Bank of Canada began coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, October 29th. Susquehanna raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Finally, Barclays raised their price objective on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target 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.