Yousif Capital Management LLC Raises Position in TechnipFMC plc $FTI

Yousif Capital Management LLC grew its position in shares of TechnipFMC plc (NYSE:FTI) by 1,563.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,861 shares of the oil and gas company’s stock after buying an additional 124,872 shares during the quarter. Yousif Capital Management LLC’s holdings in TechnipFMC were worth $5,241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Diversified Trust Co lifted its position in TechnipFMC by 0.8% in the 2nd quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company’s stock valued at $1,406,000 after acquiring an additional 306 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Quadcap Wealth Management LLC lifted its holdings in shares of TechnipFMC by 3.3% during the second quarter. Quadcap Wealth Management LLC now owns 16,256 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 521 shares in the last quarter. Ossiam boosted its position in shares of TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 546 shares during the last quarter. Finally, Sigma Planning Corp boosted its position in shares of TechnipFMC by 4.9% during the second quarter. Sigma Planning Corp now owns 11,917 shares of the oil and gas company’s stock valued at $410,000 after buying an additional 558 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FTI. Citigroup boosted their target price on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Barclays raised their target price on shares of TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Jefferies Financial Group lifted their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.92.

TechnipFMC Trading Down 1.1%

Shares of TechnipFMC stock opened at $44.68 on Thursday. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $47.33. The company’s fifty day simple moving average is $43.15 and its 200-day simple moving average is $38.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The stock has a market capitalization of $18.07 billion, a PE ratio of 19.95, a P/E/G ratio of 1.07 and a beta of 0.68.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.TechnipFMC’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. As a group, equities analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, November 18th. TechnipFMC’s dividend payout ratio is currently 8.93%.

TechnipFMC declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 22nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.